Thursday, July 2, 2009
The DOW is starting to look weak after hitting the the 200 day a few weeks ago, and now is testing the 8200 level again, which has been support for 2 months. There is also a head and shoulders pattern too, which is bearish. If the Dow closes below 8200, this could be the start of a big decline. I would not be surprised to see 7500 or less by the end of summer. Bradley Model is calling for a trend change in July.
Posted by Jeff York at 6:26 PM