Last Fridays big gap up open, on the monthly R2 pivot(green line marked R2), with a close deep in the red, is giving a belt hold sell signal, on the Dow Jones. The YM futures chart below, also is showing strong resistance was tested last Friday, at the MR2 pivot and the June contracts Yearly R1 pivot. Most likely, that will be the high for March 2010, and maybe much longer. A close below the 8 day moving average at 10600 will be my confirmation, and a close above Fridays high will negate the sell signal. Make sure you have stops in place on long positions. This week(3/22), look for resistance at 10850 and support at 10450, on the Dow.
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