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Tuesday, October 14, 2008

Dow reverses at the 50% level

Yesterday I showed a chart of the Dow over the past 20 days and stated "...we are approaching what I call the "Retracement Zone", and this area is likely to provide solid resistance".

Here is the updated chart - as you can see the DJIA opened this morning, tagged the 50% retracement of the 9/19 high to the 10/10 low, and promptly reversed.


1 comment:

Tressa said...

Way to call it ahead of time X.

Let me be the 100th to say welcome back, you were missed.