Prashanth
23rd February 2009, 10:26 PM
A Interesting viewpoint from the perceptive of Dow Theory brought out by this blogger,
....In addition to the above, all that is needed to confirm this bear market trend is to have the Dow Industrials fall below the 7552.29 (more specifically the 7528.39) level. If this occurs then we should see the next support level for the Dow Industrials at 4132.17. On the way to the 4132.17 level we should see a lot of volatility at the 7197.60 level. Again, breaching 7197.60 is highly likely if the Transports have to go lower to hit its 2003 support level.....
More here
http://dividendinc.blogspot.com/2009/02/on-september-17-2008-i-posted-on-this.html
....In addition to the above, all that is needed to confirm this bear market trend is to have the Dow Industrials fall below the 7552.29 (more specifically the 7528.39) level. If this occurs then we should see the next support level for the Dow Industrials at 4132.17. On the way to the 4132.17 level we should see a lot of volatility at the 7197.60 level. Again, breaching 7197.60 is highly likely if the Transports have to go lower to hit its 2003 support level.....
More here
http://dividendinc.blogspot.com/2009/02/on-september-17-2008-i-posted-on-this.html