Markets Look Ugly

DOW (13,044) NAZ (2,610) S&P (1,447)

DOW:

• In its last two sessions the DOW has traded below its 200 dma of 13,361
• Double Bottom Breakdown on January 2; Preliminary price obj: 12,400
• Volume was respectable but not excessive
• I'm guessing 13,000 to be the next level to watch, then 12,724

NAZ:

• Sitting on top of its 200 dma of 2,614
• P&F is intact
• It's found support at the 40 dma each time; current level = 2,624
• Watching 2,554, then 2,540

S&P

• Has traded below its 200 dma (1,491) for the last 4 sessions
• P&F in intact until 1,440 cracks
• Watching 1,436, then 1,406