| Market Direction with Ed Downs  |
 Dow 15 Minute Chart  Dow 60 Minute Chart | ||||||
Channel BreakDow breaks channel to downside, trends lower.From prior commentary, "...The 60 Minute Chart shows that the Dow continues to trade within the boundaries of the sloping channel. This will likely continue until the lower boundary of the channel is broken at 9,000, at which point we are likely to see a much larger retracement..." The Dow opened the session weak this morning and finally got the downside break from the channel at 9,000, which further induced selling to the Close. The downside break from the channel, although light at this point, implies a further decline to come. Click Here for full Article | |||||||
MfG, ZiZo
