The DOW spent the day testing highs and lows but closed lower 34 points to form a doji on the daily charts.
The 12,600 area acted as resistance today and that's the level it will need to break thru and hold before a relief rally has any hope of some sustained gains. Weakness on Thursday could easily drop the DOW down to the 12,300 level where it should find some support.
DOW Daily Chart:
Wednesday, January 16, 2008
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