Ever wonder why the Dow goes down 160+ points one day then goes up to recover those losses the next day? I'm talking about October 19 to 21, 2010. Well, the reason is that the Dow is really moving within a sideways to up kind of trend. In the daily chart, its upward trading channel actually looks narrower than the one below. I used the 2-hour chart to give us a better view of the Dow's move. I think the Dow's range is pretty clear. As of 11:30-ish, Dow is down 131 points. It is retesting its range's support. Shall we see a bounce, Dow?
When I think of the Dow in relation to the PHISIX, I actually find myself wanting a DOWn. Come on, Dow was up the past few days and nothing much happened with the market. Let's invite the bargain hunters. I always see the intraday chart of the PHISIX opening higher then drifting lower. Iba naman! Gap down tapos rally. Exciting diba? Hahaha! :P
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