Tuesday, November 20, 2012

mini Dow (update)

My long position had a nice follow through day after my entry, but stalled two days in a row at the resistance zone I mentioned the other day ~ 12750.  It will be interesting to see if we can break through this level or if we get a retracement instead.  I wouldn't be surprised to see a pullback.  It will be important for any pullback to be shallow otherwise a strong possibility of a retest of the lows exists.  Good news is we closed above the 10 DMA and we are closing in on a bullish crossover on the MACD.

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