Will Support Hold?
10/22/2009 9:51 am EST
The last-hour downside reversal was a sign of weakness that we have not seen for quite a while as the A/D numbers went from 2-1 positive to 2-1 negative. The McClellan oscillator has gone back below zero and it is likely to reach -200. The long-term uptrend (dashed line) is at 2120 with further support at 2050-75.