Dow Breaks 8200

By Colin Twiggs
July 7, 2009 9:30 p.m. ET (11:30 a.m. AET)

These extracts from my trading diary are for educational purposes and should not be interpreted as investment or trading advice. Full terms and conditions can be found at Terms of Use.

Dow Jones Industrial Average

The Dow broke through support at 8200 to complete a head and shoulders reversal. Confirming earlier warnings, from breakout below the rising trend channel and from bearish divergence on Twiggs Money Flow (both 21-Day and 13-Week), the pattern signals a down-swing to test primary support at 6500.

S&P 500

S&P 500 breakout below support at 880 would confirm the Dow signal — and warn of a test of primary support at 670.

The breakout is expected to have a bearish influence on most major stockmarkets.

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A man is rich in proportion to the number of things he can afford to let alone.

~ Henry David Thoreau

Author: Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.

He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.

	Dow Breaks 8200 By Colin Twiggs July 7, 2009 9:30 p.m. ET (11:30 a.m. AET) These extracts from my trading diary are for educational purposes and should not be interpreted as investment or trading advice. Full terms and conditions can be found at Terms of Use. Dow Jones Industrial Average The Dow broke through support at 8200 to complete a head and shoulders reversal. Confirming earlier warnings, from breakout below the rising trend channel and from bearish divergence on Twiggs Money Flow (both 21-Day and 13-Week), the pattern signals a down-swing to test primary support at 6500. S&P 500 S&P 500 breakout below support at 880 would confirm the Dow signal — and warn of a test of primary support at 670. The breakout is expected to have a bearish influence on most major stockmarkets. Help to keep this newsletter free! Forward this link to friends and colleagues A man is rich in proportion to the number of things he can afford to let alone. ~ Henry David Thoreau Author: Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.	Share: A+ A− Incredible Charts Premium stock charting with proprietary trading tools and powerful stock screens. Sign up for free Premium Web Charts Premium cross-platform web charts with proprietary trading tools and powerful stock screens. No downloads or installation required. Suitable for Windows, macOS, and Linux operating systems. 7-day Free Trial Trading Diary Free education, macro outlook and technical updates. Join Now
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