16/07/2012

DOW weekly chart now

Here you can now see the small bar for this week between the falling 21 week MA and rising 8 week MA. DOW must get above the first bar's close on the chart to lift the 21 MA. The 8 week MA is up and will only turn down if the index gets below the 8 bar's close from the right (do not count the current bar). So there is no cross this week. But observe the 7 bar from the right which has a very low close which will raise the 8 MA next week steeper, but I do not think it will come to a cross then either. Here you can see for your self how the 8 and 21 MA will perform the coming weeks depending on different weekly closes. This weeks bar shows we are trading sideways so far for the sixth week.

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