Sunday, January 6, 2008

DJIA weekly - 2nd black candle


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DJIA = 12,800.18

DJIA formed a second black candle with lower low and lower high. Volume increasing.

DJIA seems to be headed south to test support at 12,700 or 12,500 (recent lows).

These weakness has been fueled by increase in the unemployment rate in the US which might herald a recession.

The local market will certainly suffer the same downward pressure come the start of trading this week.

Careful traders...
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