Evening Star On The Dow Once Again...

The Dow collasped on a slight rebound in oil price and jobless claims running up to 6 years high today, forming yet another evening star formation. This evening star formation is reinforced by a negative divergence on stochastics, making it a slightly stronger evening star than the one formed last week. However, this is again no guarantee that the Dow is going down into new lows as the signal needs to be confirmed over the next few days. If the Dow closes below its immediate short term support level of 11150, the evening star signal would be confirmed. If the Dow reverses its course strongly tomorrow, it could negate the evening star signal and breakout.

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