Thursday, August 19, 2010

Dow may go down


The indexes closed down on Thursday and may continue going down today (Friday). Today is options expiration day and that is often a market mover. Moreover we are going into the uncertainty of the weekend. There is a strong probability that the markets will continue their downtrend. However, the trend will be confirmed when the Dow goes below 9600. Today it stands about 10250. We appear to be in the beginning stages of wave 3. Keep a chart before you to keep your perspective on the intermediate trend of the markets.

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