Weekly DJIA through 14-Mar-2005

The weekly DJIA closed 144+ points lower this week. As expected, with a lower close the price bar has turned red and the indicators continue to turn south. The Stochastics indicator is still >80, but one more down week would put it below that trigger level. Everything on the chart points to lower prices, except that we've had weeks in the past few months which closed lower then bounced back with a reversal price bar the next week. If that happens, the downside will be very limited, but if the market moves sideways to lower this week, the market should decline a few hundred more points, at least.

As mentioned in the last post, due to technical problems, I'm unable to post my charts this weekend. If I am able to later, I will amend this post with the chart for this week.