[RT] INDU

[Ralph Volpe <rjv@xxxxxxxxxx>]

I posted a Dow chart recently and pointed out that this week was
critical for the purpose of determining the direction of the next larger
move. I said that price had penetrated below major support and that it
had to roll back up this week to reenter the pattern it broke out of or
the market will dramatically move lower. Well, as seen by the attached
chart, price has rolled back somewhat, but it still has to reenter the
pattern by tomorrow. In essence, the Dow needs to rise by better than
170 points by the close tomorrow for the September monthly bar not to
show a major break below support. I feel that there will be a
substantial run higher tomorrow, but that remains to be seen.

--
Ralph           =>        E-mail   =>  rjv@xxxxxxxxxx


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