Swing Trading Report Friday, November 20, 2009

By John Crane
20 November 2009 @ 09:44 am EDT

December Dow Jones - Dow Jones futures extended overnight losses, as the overseas markets show concern that the recent rally has outpaced the prospects for economic growth. Looking at the charts, I can see the Dow Jones futures reached the reaction line one day before Thursday's projected reversal swing day. The confluence of Time and Price is suggesting the bullish cycle may have peaked. Friday's "trail day" pattern could provide a clue as to the next direction.

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