Just going over my charts this stormy afternoon in Canberra. If you take a look at the Dow industrials on a weekly, or better still, a monthly chart, you can draw a declining trendline beginning in January 2000. The contact point currently is at around 10,000. Above this and the downward trend is broken. It will be interesting to see if this simplest of all technical indicators can keep the Dow locked into its decline....
