Thursday, January 06, 2005


We had a mild up day in the Dow today, and although it just missed being an inside day and was a reversal day, I think it presents an opportunity to project the first target on this down move. Note the CCI indicator just crossed the zero line today.

The target for this move is
10650-(10890-10650)= 10410

The DJIA may go up a little tomorrow, but more likely will go sideways, possibly closing lower. Look for lower prices next week.


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