Gday Prophet,Yep I am expecting weakness on DOW based on the...

Gday Prophet,

Yep I am expecting weakness on DOW based on the weekly chart. So perhaps we will start the trend down...
I am not surprised our market started with enthusiasm and has fallen into negative territory now.. here is a post from the weekend concerning my observations on the DJIA.
Best of luck to all.

Subject: dow jones weekly chart
Stock Code: DJIA -
Posted: 13/10/07 09:43 Hotcopper Radio: DJIA on BoardRoom Radio
Posted By: commy Views: 62
Post #: 2188007 (Start of thread) Sentiment: Buy
IP: 124.171.xxx.xxx Voluntary Disclosure: Stock Held

Morning all,
Woke to find the Dow had another green night, but looking at the weekly timeframe I see that we have some basis to think that the trend might reverse over the coming weeks.
The dow has been in a long term up channel, right now we are at the top.
So it is possible the dow might try to head back towards the other side of the channel.
The candle formed this last week is a spinning top, which is a sign of indecision and a possible reversal candle (must wait for confirmation on any candlestick analysis however).
Also we have some pretty compelling bearish divergence on the RSI, which can only warn us to be careful with any long positions. It cannot tell us exactly when things might go into reverse but just to be catious.
Should the DOW fall, I think it will impact us here in OZ.
How much it will affect us is the relevant question......
Good luck to all

Cheers
Commy