Technical View of Major Markets

Roger Wiegand works very hard to collect and interpret technical data that can help determine the direction of major segments of the market. Roger’s information is one of the tools I use to help me get a handle on things.  Dow Jones Industrial Average: Closed at 10213.62 -57.59 on above average volume and falling momentum. The bear head and shoulders is now fully formed as we did forecast and the selling has begun in earnest. New lower support is the lower end of the trading range at 9750 followed by 9450. New and hard resistance is 10250 with the close today under all three moving averages. While the price bar closed neutral signaling either up or down on Monday, if shares are to rise, we think the PPT will …