DJIA - turmoil after the rate cut

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DJIA = 13595.10 (0.20%)

DJIA seems to be forming a support level around 13350, I hope it holds.

The daily chart seems to be indicating a downtrend for the DJIA as represented by the lower highs after testing 14,000, which might probably be a resistance level.

What we would like to see on Monday would be a bullish engulfing white candle that would reverse this present trend and break the 14000 immediate resistance level.

Good luck to all traders!

Note FED has recently cut interest rates by 50 basis points... but it failed to propel the index upwards...



Fujitsu Computer Systems Corporation

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