12,000 for the DOW?
Our remarkable run up is continuing, with the DOW now seeming to be breaking from it's flag formation. We are over 11,900 now and with 12,000 just a short distance away. While we'll wait for the close to confirm holding 11,900 things look promising at this time.
12,000 does represent significant "round number" resistance--and we will be watching this very closely. We've not yet seen much of a "correction" during the DOW's bull run these past few weeks, and I suspect that we'll see some profit taking as this level is approached.
Watch you open long positions carefully for signs of faltering--remember--we're in "uncharted waters" here...and it will pay to remain ever vigilant.
Good trading!
12,000 does represent significant "round number" resistance--and we will be watching this very closely. We've not yet seen much of a "correction" during the DOW's bull run these past few weeks, and I suspect that we'll see some profit taking as this level is approached.
Watch you open long positions carefully for signs of faltering--remember--we're in "uncharted waters" here...and it will pay to remain ever vigilant.
Good trading!
posted by Dan at 11:46 AM
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