Technical Insider

Dow dives 777 points as House rejects bailout plan (from yahoo.com) NEW YORK - The failure of the bailout package in Congress literally dropped jaws on Wall Street and triggered a historic selloff — including a terrifying decline of nearly 500 points in mere minutes as the vote took place, the closest thing to panic the stock market has seen in years. The Dow Jones industrial average lost 777 points Monday, its biggest single-day fall ever, easily beating the 684 points it lost on the first day of trading after the Sept. 11, 2001, terrorist attacks. U.S. stocks hammered after House rejects rescue Dow posts biggest point loss ever, topping plunge after Sept. 11, 2001 By Kate Gibson, MarketWatch NEW YORK (MarketWatch) -- Stocks plunged Monday, with the Dow industrials plunging 777 points or their worst point drop on record, as the House of Representatives voted down the government's $700 billion financial bailout package. Congress calls Wall Street's bluff, and we lose Commentary...

DJIA = 12,337.22 DJIA formed another black candle/doji, with higher high and higher low. Volume decreasing. DJIA seems to be headed to test resistances at 12,600 and possibly 12,800. Good luck to all traders! :)

DJIA = 12,373.41 () DJIA forming a bottom shaven white candle with higher low and higher high. DJIA seems to have confirmed the reversal pattern: bullish engulfing, by forming higher low and higher high. Good luck to all traders! News: Blue chips rally on Buffett Dow and S&P 500 jump on billionaire investor's offer to help bond insurers and a plan for mortgage lenders to help homeowners. Tech-fueled Nasdaq can't hold on to gains.