Dow Jones - big flush expected

Too early to long.
Wait for the turn.
Likely to have a big flush towards 6500 before a strong rebound.
Best is wait for the turn - lowest risk.

Dow Jones Industrial Average - yearly uptrend intact

Did a yearly chart for Dow.
Interestingly, It is still on an uptrend, though this 2008 downbar is the longest in Dow history.
The 7400 mark hasn't been broken.
However, it has been hit 3 times.
The next time when it hits again, it is likely to be broken.

To remain uptrend, 2009's low has to be supported at around 7739.
Second support is around 7400.
Third support is 7197.49.
After that no eyes see liao. :(

Dow Jones - short term outlook

Very near mid-term support, and short term resistant.
If the next bar is not a short one, it should give us a clearer direction of where Dow is heading - Year End Rally (window dressing) or anti-climax (mid-term breakdown).

Dow's technical - 7th March 2008

Next Monday, Dow's support of about 11740 should be quite critical. This is what I see as the first support to be met soon .This is the longterm uptrend support. Mid term and short term is downtrending.

If it breaks, Dow would likely hit 22nd Jan low of 11634.82 and 23rd Jan low 11644.81, which is not far from last night closing of 11893.69. Less than 300 points. There should be a stronger support there.
It may test these supports a few times, breaks it and hit new low.

Worst scenario is that it will break and hit new low and rebound before 18th March 2008 FOMC meeting. It is not impossible, if there are more bad news coming out before 18th March.

Hang Seng Index tomorrow.....

Doesn't look good.
Hang Seng Future Index (Dec 2007) fell 557 points at 4:15pm.
This should pull down STI tomorrow, if Dow fell again tonight......