djia at support?, page-14

okay....well

- the DOW crossed below the 23d SMA on 4-5/05/10 @ 10900

- low 6/05/10 @ 9870
- low 25/05/10 @ 9775
- low 8/06/10 @ 9758
- low 2/07/10 @ 9615

I feel that the rally we had over the past week is mainly technical. Just looking at the chart highs and lows, i think we're def in a downward trend since late April/May and will test the 96/9500 support again bet 20-23 July. If that holds i suspect we will get a relief rally to test these highs again. If that support fails, i'm seeing another 5-8% correction to put us around 89/8800 over the coming 3-4 months.

I'm 100% in cash (but not downramping - JMHO) - i'll look to trade the bounce at the 96/9500 support if it gets there.

Good luck all.