Archived IMT (2009.11.26)

SHANGHAI COMPOSITEs bearish engulfing DAILY & WEEKLY chart http://chart.ly/sc6bca suggests that prolonged losses next week may not go unnoticed by the DJIA-30. The Dow regained the 10.400 level on Wednesday, but HAS YET TO CLOSE THE WEEK above the all important 10,335 level, which marks the 50% retracement of the decline from the Oct 07 high to the Mar 09 low. Will the losses in Shanghai push the to Dow close below 10,335 on Friday? Last week, Dow failed to close above 10,335 after succeeding in doing so on Mon-Tues-Wed. Weekly closes are the ones that matter.