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SPDR Dow Jones Industrial Average ETF Message Board

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  • dladden7 dladden7 Oct 28, 2008 8:45 PM Flag

    IN SHORT AT $90.47...

    1. Gap fill at 90 has been satisfied. 2. Stochastics showing extremely overbought. 3. Priced too far above moving average to be maintained without a correction (ie no support) 4. MACD divergence indicates a likely downturn to compensate 5. DOW futures are negative after hours 6. Previous run ups: Oct 13, gain of $12 followed by a decline of $10. Oct 16-20, gain of $9 followed by a decline of $13. 7. After this many negative days, there are going to be more sellers than buyers after an $11 dollar one day rise. 8. Bollinger upper band broken and will require a return to price channel.
    **Technicals based on a 10-day chart for ACTIVE SHORT TERM PURPOSES. Long-term, I am bullish. Tomorrow, I'm looking for a quick market correction.

182.47-0.63(-0.34%)11:16 AMEDT