Dow Jones Industrial reached new high today. The volume is decent, so we may see some follow-through next week.
Tag Archives: Volume
Dow Jones Industral above 11,000
Looking at this five-year chart of INDU, we can see we have again approached and crossed the 11,000 line. With the base built over last two years after 2003 all year long steady climbing up, we may enter a new uptrend from here. We need to see some follow-through after breaking 11,000 with decent volume.
INDU and QQQ
INDU rallied back nicely today. I sold 1/3 of current equity position as planned (10350). Another 1/3 will be sold if Dow Jones reaches 10550-10600.
QQQQ is still lagging behind. Today’s move was not accompanied with good volume. Let’s see if we can see some follow through in the rest of week.
Charts on INDU, GOOG, HNP, QQQQ and LOW
Previous support at 10600 has become the resistence here. All longer term SMAs are pointing downwards, but SMA 5 is pointing sideway or flat. Obviously some good news would help to break the stalemate.
GOOG’s volume has been low. Friday was a down, but volume was very low compared to the up day on Thursday. Not too many sellers and it’s bullish sign.
Waiting for something to happen here.
Maybe we will see a cup forming here next week or so.
A good entry to long LOW if the support holds. The extremly high selling volume might indicate that most sellers wanted out were out now.
HNP continues moving up
HNP continues moving up and the volume has picked up as well. Good sign. I have marked the major resistences and supports in the chart. Reaching the previous high of 32.66 is possible.