Dow Jones Industrials has completed another leg of up trend building since last pullback to 8100.
Current resistance at 9600 has not been broken. A pullback to 8800 is likely if it fails to break out 9600.
However, if 9600 is taken out, the next resistance is 10,750!
Marching to 12,000. It will form a double top on this long term chart, which means we may see some pullback around 12,000.
IShare Russell 2000 ETF (IWM) shows a pullback into the support area. Let’s see if this uptrend line holds.
DOW Jones Average seems to be testing the support area.
DOW Jones Industral Average pulls back a little. I expect that we may see a pullback around 10730. If you are bullish, it may be an opportunity to get on this rally at the year end.
All major indexes are back at the SMA 200 line. Judging from the overhead downtrend lines and SMA 200, we shall see some pullback unless the bulls take charge from here.
