DOW Chart - heading for a breakdown?
Since the Dec/Jan rally the DOW has been looking weaker by the day and strong support levels are likely to be tested soon.
Note the low point on the daily chart below - 7,449. If we fall below it, 7,200 (last seen in 2002) becomes the next support level.
Dow Daily Chart
DOW Weekly Chart
Quite a bit of heavy economic data is due for release this Thursday and Friday - includes: Initial Claims, Factory Orders, Earnings and Unemployment Rate.
Baring the unexpected release of any "fantastic" economic news, I think 7,400 may be tested later this week...
DOW: Where's the Floor?