Thursday, March 5, 2009

General Motors Corp., and ongoing uncertainty about the financial system and DJ

My DJ chart posted few weeks before showed the support @ 7200 which is now broken and DJ now is at 6673 now on intraday. Now it is not clear where the next support is because market so beaten up and big companies posting losses and all, I plotted few EMAs to find the next possible support. I can only see possible support is EMA(500)(I have never used EMA(500) EVER before, market never been so bad.)
EMA(500) is 6104. So If market keeps dropping, it may touch 6100.

Do Not Go Aginst the Trend..."Trend is Friend"

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