sti and the dow

dow jones is at its resistance, with 2 days of high volume trading, slight spinning top double and indicators on negative ROC. expect the dow to move downwards tonight, and continue for the next week. 7100 is the initial level to look out for, followed by 6516 if the downtrend persists.

sti showed a spinning top pattern, at a crucial support/resistance level. no abnormalities in volume indicating consolidation, and i expect sti to carry on its move upwards if monday shows strong buying pressure. level to look out for is 1635, this is where sti is going if its going up.

just to point out that intraday volatility for indexes may give false trading signals. thus, it is prudent to widen your stop losses.