ChapmanWave

One excellent up session doth not a trend change. There needs to be some upside follow through by today or Friday.

That was an ugly session, yesterday. So, of course the oversold OBV-On Balance Volume reading is even more oversold. So a bounce shold be attempted again today.

The Dow needs enough strength to hold for a new daily grey Leg-A over 29955 this week

Will today or tomorrow see a decent turnaround attempt in the Dow; watching the CW red Roman Candle today for clues. And a Happy New Year to thise celebrating the Jewish New Year today.

The critical 30000 Dow level is being tested; it might make for a rebound early next week.

The 30000-millennium support level is now key; there should be a bounce attempt off this level.

It's not just what they say this afternoon, it is how the market responds. At this point the Dow 30400s remains important support.

While awaiting the Fed Speak, Wednesday, there are signs that this market is itching for a bounce - but from where-to-where; and when-to-when is key.

There is a chance that the Dow attempts some form of a bounce, but the Wednesday Fed Speak looms overhead.

Dow has formed a CW Dreaded-h pattern, and needs to rebound very soon in order to stablize some.