Morning. Put one of my dodgy pink lines on the daily djia chart...

Morning.

Put one of my dodgy pink lines on the daily djia chart yesterday as the target & whataya know.. sometimes I fluke em. So is this the end of the st road is the question? If it is then the lower high, lower low theory would be rife! Turning to the spx chart (which doesn't update on my software until 8.30) before last night's session it was under resistance (imo) & taking into account last night's action it looks keen for more as it has now broken out.

It's still a way off the same line the djia hit last night & looks to me as now being the target at around 1175-80. This would take the djia to the 50% fib retrace of Jul10 lows to May11 highs & the 50sma both on the daily chart below & both strong resistance imo.. of course a breakout through the pink descending would be a very bullish move so perhaps even look beyond if it gets through there imo. This would be a bad outcome for the bears as it would most likely put in a higher (closing) high... as martis says .. we await

5 mins

djia daily