16/11/2011

Dow closed Tuesday at 12.091.7 after a sharp selloff the last hour. Asia started with a drop gap taken DOW to a low of 11.936. When Europe opened Dow rallied on upside to close the gap and now the index is trading around Tuesdays closing level.

However the 2 hour trend is still down and this gap covering rally will soon come back down below the falling 21 and 8 MA at he 2hr chart at 12.042.

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