Fund managers are likely to withdraw support for stocks on their balance sheet now that the June 30 quarter-end has passed. This increases the risk of a significant correction across major markets — which would test the lows from March 2009.
The Dow threatens to complete a head and shoulders reversal if it breaks through support at 8200. The recent trend channel breakout already warns of a down-swing to test primary support at 6500
closest to the pin at close 6-7-09, page-54
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