Monday, October 18, 2010

Dow Industrial Forecast as of 10/18/2010

On a closing basis, we have a mixed picture. Two periods point up. Two point down. I wouldn't say there's an edge.

I've added a new chart type showing the expected high/low channel. Based on the consensus, it looks likely that today's low could hold tomorrow, but upside looks limited. The short side might be a bit more favorable since only two periods show a higher low tomorrow, implying intra-day weakness tomorrow.

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