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 [分享][美股解盘]-Key DOW Levels for 6/23 |
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gigilang
头衔: 海归中校
声望: 博导
性别: 
加入时间: 2008/05/01
文章: 1377
来自: usa
海归分: 43104
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作者：gigilang 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Key DOW Levels for 6/23
UP Above 12,200
DN None
Big Weakness..
Dow breaks consolidation to downside, drops 220 points.
From prior commentary, "...The fact that the Dow has formed a consolidation at the lows of the downtrend is quite bearish and could lead to another decline of about 210 points from the breakout point of the range..."
The Dow opened the day with a huge downside break through the bottom of the clear consolidation range this morning, which essentially led to a big 220 point loss on the day. The Dow has now dropped over 1,300 since topping out in May and could be headed for a test of the March lows.
The Daily and 60 Minute Charts show the Dow has continued to push steadily lower within the highly bearish downtrend and is now approaching the lows of March at around 11,730. We will keep a very close eye at these levels, as break could set the wheels in motion for a much larger pattern from the Weekly Chart. This timeframe shows the Dow could be forming a gigantic head-and-shoulders pattern with a neck line at 11,600. A break of this pattern will easily send the index back toward the 10,000 level, if not lower. Such a move would occur over the next couple of months.
Since the Dow has dropped very sharply throughout the month, we could see a near-term bounce ahead. Overall weakness is still likely, but a bounce could lead to another touch of the upper trend line at around 12,070.
Short Term Dow
The Dow ended the day near the lows of the session after breaking through near-term support at 11,980. Look for more weakness beneath this fulcrum.
Medium Term Dow
In the medium term, we are still out of the market and will watch 12,200 up; while holding off on Longs; using 25 point stops.
NASDAQ & S&P
The NASDAQ dropped back to key support, while the S&P broke through the bottom of its consolidation. Each index looks quite bearish and could be headed lower should the NASDAQ break support.
Summary
The Dow closed the day near the lows of the day after breaking the bearish consolidation to the downside. Look for the index to remain within the highly bearish downtrend, but to potentially test this line soon.
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作者：gigilang 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 [分享][美股解盘]-Key DOW Levels for 6/23 -- gigilang - (2231 Byte) 2008-6-21 周六, 08:27 (1468 reads)
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