Jan 30, 2009 - make or break day for dow

Discussion in 'Technical Analysis' started by swtrader, Jan 29, 2009.

  1. need about a 400 point rally, or it makes it's first monthly close below 200 month moving avg, in at least 20 years
  2. quick ta could give us a downleg to 5000 dow
  3. Sounds frightening. But look what happened when we closed below 200 on weekly :)
  4. why the smiley?

    it crashed

    i'm not making any predictions here, i'm just saying we are at a very significant moment, technically
  5. my gut feeling, is that we find out today if the PPT has any ammo left in the magazine

    that's the only thing that's gonna push us up the needed 400 points
  6. 3 stabs below the 200 month with closes above for the previous 3 months, contained almost perfectly by the 5 month avg this month, and the december 'inside month' did no good

    this is really ugly technically

    a continued crash, after little more than a consolidation pause, really

    looks like the market corrected by time, not price
  7. any thoughts on this?
  8. ess1096


    Yes.........Trade it.
  9. I'll start catching the knife when SNP breaks 650
  10. You mean like this? ( See attachment)
    #10     Jan 31, 2009