Disclaimer: For education/entertainment purpose only. Invest at your own Risk
On Wednesday, the Dow closed at 11,331 which is 74 points lower than the previous close of 11,406
Trend is still bullish as long as it is contained in the upwards trending Bullish Channel.
Today, Dow turned Red because of the downwards pressure.
Remember, how hard it was for the Dow to go above 11,300. At that time, 11,300 was the Resistance.
Now, 11,300 has become the support. If the Dow tries to go below 11,300, it will face a great resistance.
If however, the market turns down so bad that it goes below 11,300 then Dow will no longer be in a bullish trend.
It will again go into sideways trend.
Stock Picks:
Just check out NVEC please.
It is ZOOMING up on really high volume !!
Refer the following link :
http://finance.yahoo.com/q/bc?s=NVEC&t=6m
Photo Credits: by Stig Nygaard
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