Tuesday, June 15, 2010

DJIA Line Chart Half Diamond To Full Gem



The orange half diamond formation mentioned in the 6 June 2010 posting has been transformed into a sparkling gem . A breakout upwards will confirm a reversal diamond pattern. The upthrust will challenge the formidable moving average ribbon bands and will probably be halted by the red trendline.

Conversely, a breakdown below the orange diamomd support confirms a continuation pattern and will probably result in more downward declines. A drop below the blue trendline will test the lavender and the green horizontal support levels.

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