My error. Today gave us a Black Candlestick rather than a Black Opening Marubozu. This candlestick will have a 53% chance of continuing the Bearish trend.
By the way we had a Bearish cross on the Daily Ichimoku today.
// End of Market recap for 2010.08.23 //
Last Wednesday Price broke slightly above the mid-line of the fork. This may happen again today, but I don't expect Price to rally to the top tine. Even if it does I believe this week if not today will reward the Bears. A break below 1060 will violate the fork from March 2009.
Breaking the 2009 fork will begin an avalanche of Price to the 1040 range which I believe will also fail. The low of 1010.91 will also present some support. My target remains 950 before any major support.
DDF is Bullish.