When a trend goes below a very important resistance point a second test will occur from below of that point.
SWED broke the last support point at 862,98 last Friday and took a new yearly low at 836. The index then turned up to test the broken support point and closed exactly at 862,98 for the week. Monday will show if this point still is the last support point or not.
Much bigger impact has the Dow in the same situation. During Friday the index fell below extremely important supportpoint 10.830,20 down to 10.650. From here a quick rally up to test 10.830 from below. The index could only reach 10.827,7. New drop to 10.591 and then a second rally which only reached 10.790,5. Two hours later the index closed for the week at 10.765,1. The last supportpoint for the DOW is 10.517 before a new 2 hour close low for the year.
On these small points hinge the whole worlds stock markets on Monday. Will the 2 hour close get above 10.830,20 and stay there - that is the only question I am interested in right now. If not the road to 10.000 might open for the DOW unless the last support 10.517 can hold.
SWED broke the last support point at 862,98 last Friday and took a new yearly low at 836. The index then turned up to test the broken support point and closed exactly at 862,98 for the week. Monday will show if this point still is the last support point or not.
Much bigger impact has the Dow in the same situation. During Friday the index fell below extremely important supportpoint 10.830,20 down to 10.650. From here a quick rally up to test 10.830 from below. The index could only reach 10.827,7. New drop to 10.591 and then a second rally which only reached 10.790,5. Two hours later the index closed for the week at 10.765,1. The last supportpoint for the DOW is 10.517 before a new 2 hour close low for the year.
On these small points hinge the whole worlds stock markets on Monday. Will the 2 hour close get above 10.830,20 and stay there - that is the only question I am interested in right now. If not the road to 10.000 might open for the DOW unless the last support 10.517 can hold.
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