« BBH Firming at Support | Main | Finance Weighs on the Big Boys »
March 31, 2006
The Dow Retraces
Even though the Dow has suddenly weakened, the big trend remains up for this key Average. The Dow surged in March (~10900 to ~11350) and the current decline has retraced 50-62% of this advance. This is a normal retracement so far. There is a lot of support around 11050 from the October trendline, broken resistance and the Feb-Mar flag. I would not become too concerned as long as this level holds.
Posted by Arthur B. Hill at March 31, 2006 05:17 AM