30/08/2012

Dow closed Thursday at 13.003.9.Tomorrow Friday is the last day of the month and week. Very important trading day's closes for longer trends.

Dow daily chart since Feb 9 until today. Most important is the blue 8 MA that has crossed the 21 MA on downside making the trend a daily downtrend. Compare the tops to the left and see what happened when a cross on downside occurred earlier this year. Bernanke's speech will start at CET 16.00. That is what many traders have been waiting for. The market can move strongly on up or down.

The technical pictures of DOW here and DAX, FTSE, SWED, SP500 and NAS above indicates that the tops have been reached.

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