October 20, 2008

Here is the graph for DOW industrials. A clear flag pattern has formed. This will provide a downward impulse to the index. So expect a breakout on the downside unless something miraculous happens.

Although not shown here the nasdaq shows a similar formation. Moreover notice that volume on rise is below the average. So not a convincing rally at all today. Moreover notice the remarkable volume of sell off on 10th October. The highest intraday sell off in a year. All the sectors which have not yet broken down will probably break down. So watch and beware....

Market overview today:

AEX Index	269,41	6,80%	S&P 500 Index	985,40	4,77%
Dow Jones Indus. Avg.	9265,43	4,67%	Nasdaq Composite	1770,03	3,43%

Stocks on rise on high volume :

1. ADG
2. EBS
3. CPSI
4. TQ
5. NEOG
6. LPHI
7. PETS
8. GEHL
9. SPTN
10. CTGX
11. MMSI
12. ROCM
13. THS
14. DR
15. SCB
16. ATLO
17. EVBN
18. SURW