The Dow is at a technical resistance level with a strong support level beneath the most recent run.
When technical lines are very precise, it means most of the trading is technical, from short-term professional traders or longer-term fundamentalists with technical backgrounds. When the smart money is trading, it tends to make the trend more sustainable.
At any time, this and the other major indexes may shift into a sideways trend for a while. Minor corrections are normal and necessary to sustain an overall uptrend. But the run out of the bottom has been solid.
When technical lines are very precise, it means most of the trading is technical, from short-term professional traders or longer-term fundamentalists with technical backgrounds. When the smart money is trading, it tends to make the trend more sustainable.
At any time, this and the other major indexes may shift into a sideways trend for a while. Minor corrections are normal and necessary to sustain an overall uptrend. But the run out of the bottom has been solid.
Martha Stokes, CMT
www.TechniTrader.Courses
Learn how to use the technical patterns of each market participant for better trade planning.
www.TechniTrader.Courses
Learn how to use the technical patterns of each market participant for better trade planning.