The Dow had a false breakout of its trading channel causing a bull trap to occur sending price down near the lower boundary of the short term trading channel. After last weeks brutal bloodbath which resulted in the largest 1 week decline in the Dow in the last 5 years, it appears that the dow may have found support at the lower boundary of the trading channel. Its to early to say for sure if this is a bullish reversal, but its a good sign to see a decent rally on areas of support. A close below todays low of 13,219 will be a bearish sign that will likely lead to a further decline in the general markets. Next support area in line is around 12,800.












