Friday, April 3, 2009

Dow Jones at resistance?

The Dow played the weekly pivots (blue circles on the white lines) perfectly. Monday saw buyers come in on S1 and they sold at R1 on Thursday. Also at 8016 was the 62 fib re-tracement and the red line is the 100 sma. We should pullback here next week, but we probably will test the monthly R1 pivot at 8126 first.