Dow (Yesterday about 400 points was just a continuation of the Bear Flag Breakdown...)

DJIA - I warned on the 13 Jan 2009 that DJIA could potentially break down from the Bear Flag formation. The breakdown occurred on 14 Jan and after two days of brief technical rebounce, yesterday 400 points of fall is just a confirmation of our Bearish view.

If one take a look at the Weekly Chart, the Height of the Bear Flag is about 3,432 points (11,442 - 8,010). The Technical level for DJIA = 8,380 - 3,432 = 4,948.

This target is inline with our last year Monthly Chart forcast for DJIA to reach 5,000 at some point in time.

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