Markets have broken the supports noted on my post on this link below as bearish market sentiment is prevailing the markets pushed down by short-side positions.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35640760
Markets held the low at Qs 29.06 support +/- and closed below the aforementioned pivotal supports, e.g. Qs 30 & SPX 800, and closing at:
$COMPX 1470.66 -63.70 -4.15%
$INDU 7552.60 -297.81 -3.79%
$INX 789.17 -37.67 -4.56%
Dow closed 9 year low support area, in 2002 and 1997, on closing basis.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35652513
With the sharp sell-off, markets are now oversold as noted earlier and showing positive divergences; however, with the bearish market driver, unless price action proves itself, markets are doomed with the worse scenario; therefore, Americans must march to Washington to fight for Financial Stability; otherwise, Americans will continue marching to poverty and depression.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35651589
Only hope which we can see is that Americans must march to Washington to restore our financial stability. Americans must be the example of dealing with the financial crisis. What has happened to Americans is the example for the world to see and to come if the reality is not corrected. Americans must march to Washington to demand Financial Stability.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35661962
Pivotal Resistances: SPX 800 +/-, Qs 30 +/-, Nasdaq 1500 +/-
Pivotal Support: DOW 7500 +/-
VST (very short term: intraday-a few days) : bearish/neutral/oversold
ST (Short term: a few days – 3 mos) : bearish/neutral
IT (intermediate term: 3 mos – 1 yr) : neutral
LT (long term: 1 yr – 3 yrs): bearish
VLT (very long term: 3 yrs – decades) : bullish
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