I have been tracking the Dow-30 upwards since 2009 and in the last week the support line since then has got broken. This is pretty serious and we can only expect that it can go lower from here. It would not surprise me at all if we see a minor rally up to the 10 day moving average (red line in the lower chart) over the next few days- it is part of the overall pattern as it falls. If it climbs it can only be seen as a selling opportunity.I show the chart since 2009 here. Notice the break at the top
Here I want to show the daily chart which shows the break clearly. Note the weak money stream- not a good sign
The opinions expressed here are the opinions of the blogger Pat Lynch. The market may go up or down. One should contact there financial advisers before they buy or sell shares. Feel free to contact me should you wish to attend one of my free seminars held in your city. Kind regards Pat