Yesterday I pointed out the inability of the indices to get over the resistance line. (Bears 1, Bulls 0) And today the reversal took place as the bears won the day. No surprise to anyone reading this column. So we're headed back down to a 12,000 DOW to finish the year. What? Huh? Oh, yes, you're right! OMG~ That is where I predicted we would end the year!! And mark my words, if we end under that, it spells touble for 2012.
Here's the charts. Target 20 EMA on the DIA = 120.10
Momentum = Not enough to move a snail
Trend = Sideways
CHARTS~
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