Saturday, January 31, 2009

$INDU Update for 01.31.2009


Monthly chart shows continued bearishness, with no buy signal/pattern in place on this timeframe.

Weekly chart continues to show weakness, with the index remaining below all key moving averages and all down trendlines in place. No buy signal/pattern evident on this timeframe.

Daily chart shows a lower high in place, with the index falling back below all key moving averages on this timeframe. Look for continued weakness and a test of the November 2008 low before a break of this key LIS and lower still.

No comments: