There is no clear support level for this market at this time. It is just a guessing game to figure out where the carnage will stop. It is very important in a market like this to keep multiple time frames in mind. The market is the market and the charts will tell you where we have been and act as a "windsock" suggesting where it might go.
2D, 5m. - Mar. 9 - Today was an "Inside Day". It started with a Gap Up but then retreated into a slow erosion for the rest of the session. Friday's lows were not broken so there is hope that tomorrow will show some traction to the upside.
5D, 30m. - Mar. 9 - Market closed below all moving averages. There was no real threat to the Bear Potato which has now lasted for 19 days. A record in the lifetime of Potato Peelings.
10D, 60m. - Mar. 9 - Hourly chart simple reconfirms the continuation of the Bear Potato. As in the 30 minute chart the close is below all significant moving averages.
3M, Daily - Mar. 9 - This longer time frame chart shows the continued down trend that has prevailed for 6 months. The trend downward has actually accelerated in the last 5 sessions.Predictions by experts as to where the DOW will go range from 6000 > 3000. Take your pick.
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