Dow Jones Industry Average (DJIA) re-visit

I was browsing through the CNA forum after closing and noted a prediction that DJIA will bleed tonight (Singapore is night when DJIA opens), so it raised my eyebrow that I have to take a look.



Fig 1 DJIA Weekly chart

Seeing the weekly chart, I think DJIA should be in the red for quite a while, both RSI and Stochastic is in agreement that its time for DJIA to correct itself. Probably the good thing is that the Gann Gridline for DJIA is much more gentle, thus there is a support around 8,700 region. This is re-enforced by a minor trendline.

As for Candle Stick pattern, its really difficult to tell. I can't really say that its an evening star because there is no gap, neither can it be a three inside down pattern because the harami is incomplete (day 2 partially pertuding out of day 1). Nevertheless, it is cramped between 2 bearish patterns, so it should still be down for me.