Is the Dow Jones Industrial Average Head and Shoulders Chart Pattern Broken?
POSTED BY Swing Trader on Jul 13 under DJI30-dow-jones-industrials, Uncategorized, head and shoulders
The Dow Jones had two resistance points to cross through to break the current head and shoulders patter that it is currently in (the above chart is of DIA which is 1/10 of the DJIA).
The first resistance was the 200 day moving average at 10,370. The next resistance is the right shoulder of the head and shoulder stock formation at 10,442.
Today the DJIA penetrated the 10,370 but closed below.
We will have to see what happens tomorrow. Share your thoughts.
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