15.3.10

Stock market could go down for a while

On the chart (click to enhance) we can see that the DJ Industrials is fighting against a tough resistance (Fibonacci retracement of all the bearish movement). The fall we saw in January has been really small, so it could be a nice trading idea to bet on another bearish attack. The target is quite clear: above 9000 (where the two Fibonacci lines shown in the graph coincide).

Tomorrow it´s going to be an important day and we will see what the FED has to tell us.

16/03/2010