Trend Analysis

8/23/2010


With a breakdown below the July closing lows of 9,686.48 on the Dow Industrials and 3,906.23 on the Dow Transports, the market’s primary trend would be reconfirmed as bearish. A rebound above this year’s respective highs of 11,205.03 and 4,806.01 would suggest that we shifted into the bearish camp prematurely, that we should have viewed the entire decline from this year’s highs to the July lows as a single correction.

 


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