DJIA Outlook for Mar. 9 – 13, 2009
Posted by Bonner Dytoc
Monday, March 9, 2009 18:52
Monday, March 9, 2009 18:52
Posted in category DJIA Outlook, US Market
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Looking at the DJIA’s chart undoubtedly reminds me of quicksand. The more you struggle, the faster you sink.
Based from this past week’s performance, the index has achieved lower lows, breaching through the support of the trading range at 6593. Should the DJIA break through that, we can expect a downside target of 4546.
The MACD has shown us that the momentum has accelerated its descent without letup.
As with our previous recommendation, short the weak stocks. But take heed that when everyone is bearish, a bull market is born.
Recommendation: Short weak stocks
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