Dow Jones Chart ($DJI) - August 15, 2008
I charted the DJIA (previously $INDU) again today. I was actually surprised to see the chart show it looks like we have some bullish room to run still. The latest trading channel shows the DJIA is near its trend line of higher lows. 12,000 is the big question mark for this chart. It was a floor for the Dow in the first quarter of this year and then was a speed bump on the way down in June. Now we get to see if it will stop the current upswing. As luck would have it, the trading channel I mentioned at first shows that the trend line of higher highs could coincide with 12,000 and give it a double reason to take a break. The question will be if the trading channel holds the power to get through of if 12,000 is too tough to pass.
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Original post by Alex Fotopoulos