Dow Jones Weekly Down Trend Continues Losing Almost 1.8%

Dow Jones Weekly -

Dow Jones finished down again this week and well below channel support that goes back to October 2011.  The MACD is clearly pointed down – bearish for several weeks to come as we mentioned over two weeks ago, although we could see a bounce next week – see daily and hourly.  We continue down the road of primary wave 3 down.  There are two channel support lines that need to be broken to confirm wave 3 down – one down, one remaining.  Worth noting, the US Dollar was up on the week yet again.  Please see our US Dollar charts for more info.

Click on chart to enlarge Dow Jones Weekly Down Trend Continues Losing Almost 1.8%