DOW Tests The Yearly Lows Once Again
June 22, 2008 by Tony
Filed under Stock Trading
In my last entry I stated that the DOW was closer to the yearly lows than the yearly highs. I also stated that I wasn’t going to predict if the DOW would test the yearly lows. That was on June 13, 2008 and the DOW closed at 12307.40 On Friday, June 20, 2008 the DOW fell over 220 points to close at 11842.69.
Well it appears that we are back on the lows again for the third time this year.
The DOW has not traveled outside of the range established in the first month of the year. Support and resistance traders won’t find much support slightly below these current levels.
I’m not going to make a prediction of a potential freefall here, but there really isn’t much support below where we are now.