0n my earlier posting on 31 Dec 2009 I mentioned that there are other faint dotted projection lines plotted on the chart that I will not comment on unless the Bears capture the bold red triple support lines which forms the first major Bulls defense embattlement against the Bear Raiders. Bears have capture this defense embattlement and those projection lines are now the next support zones as seen in the log scale chart.
11 Jan to 20 Jan 2010
On these days the DJIA venture above the bold green major down trend resistance which is being projected from the Oct 2007 peak.
21 Jan 2010
Blue trendline break down confirmed after the whole candlestick bar falls completely below the blue support line.
22 Jan 2010
Red triple line support zone taken out together with light green channel support. Immediate support is the orange channel. Next support is the dark grey channel and the dark green dotted line 100 days simple moving average line.If the key psychological round number 10000 support fails expect a drop to retest the 23.6% Fibonacci retracement support.
However, if a successful rebound happens the red triple support turned resistance zone and light green channel will act as a resistance buffers
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