Dow 23/08/01

ChartMan

Legendary member
5,580 46
A tad boring today. No surprises, no rallies, no tanks. It was just like a UK stock- watching paint dry. The down trend continues BUT the support line was a lot higher today, with no attempt to try for support at sub 100. Support can be found at 184 and 216 . Today had an unusually narrow trading range of only 40 odd points. Still, some people managed to steal a few points trading today.
Is this the calm before the storm?There is substantial positive divergence on PHASE indicator since the 9th, taking the 3 major lows.I don't have intraday history to validate this, but it certanly holds valid on 3 and 10 min charts.The contrarian view is up tomorrow.
 

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