Wednesday, September 16, 2009

Dow Average May Be Poised for ‘Correction’: Technical Analysis

The Dow Jones Industrial Average Index is “poised for a correction” if it drops below its 15- year line, according to a technical analyst at Mizuho Securities Co. Ltd. who looks at charts to predict future movements.The Dow average closed at 9,626.80 yesterday after reaching a high for the year on Sept. 10. A move below its 15-year line at 9,324.65 -- as of Sept. 11 -- would indicate an “elevated risk of correction,” Mizuho’s Yutaka Miura wrote in a research report dated Sept. 14.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aK_kzo0v1u8c

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