Dow ZOnes Technical View

By | March 30, 2009

The Dow encountered short-term resistance at 8000, but declining volume indicates limited interest from sellers. Twiggs Money Flow (21_day) continues to respect the zero line from below; penetration of the rising trendline would warn of another down-swing, while breakout above zero would signal continuation of the rally. Buyers are driving the market and a test of 9000 is not out of the question, but long-term sentiment remains bearish and reversal below 6500 would offer a target of 5000.

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