Just an arithmetic view of the DJIA chart for the past month lol:
Mid January bounce off 11500 on the highest volume for the year was clear capitulation and can be read as a medium term bottom. 11500 to 12800 run was a natural reaction to oversold status of the index. Retrace to neutral grounds of 12100 was expected on profit taking but retracing on low volume and settling at 12300 on a Friday looks bullish short term. From here, DOW could do a medium term bull run towards 13500.
Just an arithmetic view of the DJIA chart for the past month...
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Last
26,683 |
Change
82.730(0.31%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 26,683 | 0.00 | 0.00 |