ChartWatchers

THE BATTLE OF 13,200

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The troops are mustered. The swords are out. The orders have been posted. The pieces are in place. The die has been cast. (The metaphors are getting lame. ;-) ) However you want to say it, the battle line for the Bulls and the Bears has been drawn. Can you spot it on this Dow chart?

Dow Industrials

13,200.

Going back to early May. That is the major support level for the Dow. It was sorely tested last week and was broken on Friday. Will it bounce back this coming week? With the MACD clearly negative and the Chaikin Money Flow crossing below zero right now, things don't look promising. At the risk of abusing yet another metaphor, in the coming days astute ChartWatchers should be treated to all out war between the Bulls and the Bears.

Chip Anderson
About the author: is the founder and president of StockCharts.com. He founded the company after working as a Windows developer and corporate consultant at Microsoft from 1987 to 1997. Since 1999, Chip has guided the growth and development of StockCharts.com into a trusted financial enterprise and highly-valued resource in the industry. In this blog, Chip shares his tips and tricks on how to maximize the tools and resources available at StockCharts.com, and provides updates about new features or additions to the site. Learn More
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