Trade Updates - DOW

Well it has been ugly out there. I thought I would look at some of past posts and see if I was right or wrong with my predictions.

The first one is the DOW. I predicted that the DOW would reach the 13,400 level by end of Feb.
I was wrong. It did go up to 12,750 level but, failed to reach the mark I had set and seems to be headed down to the 11,600 level with in the next week.

Fig. 1

Looking at Fig 1. you can see I have drawn the long, medium and short term trend lines. According to Dr. Andrews, the lower prong of the pitchfork acts as support. So, the next move I am following is to see if the Dow will bounce off of that level of support or will it go through it and head further down. You can see that the 11,600 is also the level of resistance that was hit in Nov., 06. Even if the market goes back up to 12,500 we will still be in a downtrend on the DOW. Conclusion. I missed this one at least for now.