Dow closes below 10,000 for first time in 3 months

Posted on Monday, February 08, 2010 by Iron Chef Dad

Today's start to the week was rather uninspiring for the bulls. We had a slight positive push out of the gate only to be pushed back with very minor resistance at S&P 1071. The rest of the day was spent drifting down before accelerating into the close. The trend remains down as I've said before, and it will remain so until it isnt. This isn't a time to over think things. My game plan remains the same. I'll look to scale into some short exposure as the market nears the upper channel (falling daily) which should act as major resistance.

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