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| Look at this 5 year dow chart. As you can see we have spent the last 10 months in a "rising Wedge" technical pattern with decreasing volume the whole way to boot!! THIS IS VERY BEARISH AND POINTS TO A TEST OF THE MARCH LOWS BY JUNE OR JULY. You can see the pattern finally broke down on Thursday with big time follow through to the downside on Friday. Also notice the increase in volume in yellow as the pattern broke to the "downside". Also another sign to confirm this very bearish pattern.
http://i48.tinypic.com/153bibn.jpg | |
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DOW CHART BEWARE
