It has been quite sometime since my previous post (dated 14 Aug 2008) on Market Talk. As mentioned in that post, I will start to post technical analysis again if Dow breakout above 11650 convincingly. But too bad, it did not happen, and I have already stayed out of the stock market for about 4 months (since 26 Jun 2008 when Dow broke its support at 11650). Based on the Friday's closing index at 8451.19, that is about -27% from 11650.

Although technical analysis does not provide much help in the current market situation, I believe the next support levels are at about 7882 (the low on Friday) and 7286 (the bottom on 9 Oct 2002).


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