Thursday, September 17, 2009

 

The trend is still up, however...

...we are at critical levels. If the Dow can get and stay above 10K that would be a powerful sign that the March low (Approx. 6,500) is the low and that a superbull market has taken hold. Right now it is a coin flip over this but the important fact is that the trend is up and you never fight the trend. The resistance we are in is from last fall, just look at the above linked chart and imagine horizontal lines from the correction highs. To better understand the trend draw lines under the ever rising lows from last March.

If the trend ends, and I will let you know, there are two possibilities. 1) New lows or a correction of the up trend. We will have to see how this unfolds after the trend ends and that could be soon and it could be from Dow14,000. Again, don't fight the trend.

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