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    • Feb 2, 2010 – Market Commentary

    We don’t like what we are seeing right now and it appears we may be headed for a significant correction.

    The ST 20-Day trend has rolled over and is crossing the 50-Day MA on the way down.  This is called a Bear Cross is, obviously, a bearish sign.

    We are also bumping up against LT resistance on both the Weekly and Monthly Trends which are both still leaning bearish.

    We see possible downside risk to ~9,000 on the DOW if we don’t break back above the reisdent resistance just above current levels.  Everyone check out the Daily, Weekly & Monthly trends and evaluate whether or not you agree or dissent.

    Coach BD 

    02/02/2010 at 8:29 pm
    Posted in: Alerts & News. You can leave a response, or trackback from your own site.

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