10/11/2011

DOW outlook Thursday













This is a 4 hour chart from uptrend started at 10.400 Oct 4 until the top at 12.249 Oct 27. Then the drop down to the horizontal line at 11.663 where a double bottom was created. Then an upward trend in three waves to Tuesdays high of 12.184 followed by a break down to Wednesday's close at 11.782. I expect a test Thursday of the horizontal line. A break below 11.626 can send DOW to 11.000 area.(Chart Saxobank)


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