Monday, December 15, 2008

Update - Breakdowns w/Targets

Here is a series of 10 minute charts showing the bear flags I’ve been discussing. Note that they have all broken to the down side except the DOW and Transports so far.

There is support here in the 865 region, so w/o the DOW breaking down, caution is still advised.

Here’s the SPX, bear flag target = 823:



DOW, if it breaks down, target will = 8,120:



NDX target = 1,142:



RUT target = 425:



Note that all these targets are in the range of the previous lows.