Dow bounces near key retracement

With the close at 10040 on Tuesday, the Dow retraced around 61.8% of its prior advance (Jul-Aug). This Fibonacci retracement sometimes marks a reversal zone. The Dow managed to recover after dip below 10000 on Friday and close above 10100. Resistance might not be far off through. The 50-day and 200-day moving averages are a few hundred points above current levels.

100830indu


Click this image for a live chart

 Previous Article Next Article