3 replies to this topic

[NAV]

DOW has had two failed breakout attempts out of the channel from 10/1. If today's attempt fails and we break below the lower channel line, then it's not rocket science to figure out that we are headed to test the 9/25 lows. But trend trumps everything in the end. So i expect a breakout of the channel. Trading below 14100 would start to concern me.

Edited by NAV, 15 October 2007 - 06:20 AM.

[eminimee]

http://stockcharts.com/c-sc/sc?s=$INDU&p=5&yr=0&mn=0&dy=8&i=p93444192429&a=119517602&r=1369.png

[NAV]

Tea, I have that scenario in mind too. But, assigning it a low probability here, based on my hourly indicators.

[eminimee]