It will have to test the previous high first. We might see a breakout from this ascending triangle. So the resistence is at 12,845 and then 13,000 if it breaks out.
Tag Archives: Resistence
2006 Year end review
In 2006, RUT performed the best followed by INDU and S&P 500. QQQQ recovered the 10% loss from the mid-year and ended up more than 5%.
Both QQQQ and RUT are in the overhead resistence levels, only INDU and S&P 500 broke out. INDU is at all-time high and S&P 500 is about 100 points away from its all-time high.
Swing back to overhead resistence
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.
Breakout
Dow Jones Industrial broke out this resistence at higher than average volume. It’s in a 5-year high right now. Expecting some further up moves in the comming days.
Overhead resistence
INDU has to break this SMA 50 to be on the bull side. Bears will be shorting at the resistence level around 10,900 and 11,000.