Aug Low Becomes Strong Resistance

The Aug 2007 Low is now a strong resistance level for DOW and S&P 500 indices. Closing above that level could spell trouble for the Bears.

This week there are 2 important news that could drive the market crazy. The first is the FOMC meeting on the Interest Rate hike (Wednesday). The other is the NFP - non-farm payroll (Friday). These 2 news could make the market more volatile. They could either break the DOW and S&P 500 indices higher above the Aug Lows or continue the downtrend and perhaps break the Jan 2008 lows.

Have to be extra careful in these volatile market.

- PersianCat (Millionaire-in-progress)