Eye of the hurricane…

Posted on Oct 24, 2010 by in Letters

http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=1&mn=0&dy=0&id=p03149889863&a=204730441

Notice how the truism of trendlines is demonstrated here.  A broken up trendline warns of an impending  trend change.

At this moment price is in a very interesting and suspenseful place.  The trendline was broken by a down power bar, which is usually a good signal (to make a trade on).  But so far there has been no downside follow through.

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