Sunday, November 29, 2009

Whither the US Stock Market?

These 2 charts, the stuff "chartists" love, suggest the Dow Jones Industrial Average at this point is neither here nor there -- in the middle of the "channel". They also suggest that if the Dow breaks out from its upper resistance, it will again take off in a major run. But if it breaks down below its support line in the charts, then it is headed back down, way down. This is "technical"-speak. Some people consider technical analysis a form of voodoo. Others swear by it. You choose.

Source: Big Picture Blog

No comments: