Sunday, May 04, 2008

$INDU Update for 05.04.2008

DOW JONES INDUSTRIAL AVERAGE INDEX - $INDU

Monthly chart shows bulls stepped back into the market during the month of April. The key LIS where "old resistance becomes new support" held. Look for a test of the October 2007 high as likely.

Weekly chart shows the bulls managed to pull price up and above all key moving averages.

Daily chart shows the bulls managed to close the week above the daily 200sma, and above the psychology level of 13,000.

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