As a consequence it is worth looking at some important levels.
- The double top formed with the break of 4,032 had a target of 2,900-3,000. The low so far is 2,929.
- The 200-MONTH moving average comes in at 2,912. When the transports hit their low in March 2003 it came in at 1,905 and the low posted was 1,918.
- The long-term trend line on the log chart off the 1987 and 2003 low comes in at 2,850.
While this range holds there remains the potential of a platform for a bounce. A move below this range would open up the danger of an extended fall towards the 2003 low at 1,918.
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