12,000 is at the rear mirror now. INDU has been strong in the past two weeks. Even though it’s in over-bought territory, INDU has the momentum to reach higher at year end rally. The mid-term election was over, the market did not over-react to the new political landscape in Washington.
It looks rather symetric on this quarterly chart. What’s ahead of us after 12,000? It looks like a double top so it may pull back for a while before moving ahead.
Dow Jones Industrial is marching again to retest the previous high @ 11, 709. Will we see 12,000 this year? There’re still more than three months remaining for 2006.
Dow Jones moved back to the resistence level. As the war in the mideast is still lingerling around, there’s no much room for futher move up from here.
The market is looking for direction. Maybe the war is close to an end?
Dow Jones Industrial has reached the previous low. We should see some bounce unless some really bad development continues in the mideast.