That's why I am so confused when you look at the current pattern forming on the Dow! I would be calling it down from 11,000 - but it looks like it wants a northern squirt!
If volumes pick up in the US on Monday, and it can run into the 11,000's for a few days, I can see iat least 11,700 written all over it and fairly quickly?? Oil @ 61.8% will be a failure at ~$65. This will trigger a pullback or at the very least consolidation back to support @ ~$59. This of course will form an even more bullish pattern for oil and more downward pressure for the Dow! But for the moment it looks like the Dow wants up not down!!??
No trade or call for me yet as the Dow may still fail at resisitance ~11,000.
DOW Price at posting:
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