DOW

Any ideas what just happened to cause a 250 point drop over the last few hours?

Shooting star?

inside bar formed on 5mins... needs to get over 419 to for any chance of retest of todays highs.

WaveSurfer wrote: Parabola, keep saying it .....

extended channel hit... whats' next... looks like it want go higher.... break below lower channel then down it goes

dl.dropboxusercontent.com/u/40497882/dow_channel_may21v1.JPG

Parabola, keep saying it .....

extended channel hit... whats' next... looks like it want go higher.... break below lower channel then down it goes

dl.dropboxusercontent.com/u/40497882/dow_channel_may21v1.JPG

From the daily chart it seems that the DOW has been moving up within a channel since mid Nov 2012.

About a month ago I noted a hammer/long lower shadow candlestick pattern on the daily candle ( www.stocktradingfundamentals.com ... k_patterns) after a bit of pull. The DOW has since moved more than 800 points. Today there is a long upper shadow considered as a bearish signal, will that hold true????



www.dropbox.com/s/wfa6d5ujne3qk4h/DOW%20D%2020.05.12.png

dow updated Channel

dl.dropboxusercontent.com/u/40497882/dow_channel_may17v1.JPG