Friday, April 10, 2009

$INDU Update for 04.10.2009

DOW JONES INDUSTRIAL AVERAGE INDEX - $INDU

Monthly chart shows the market found support off the March 2009 low and bulls are aggressively stepping back into the market.

Weekly chart shows bulls continue to gather momentum as they take the index higher to close above the 8ema.

Daily chart shows the bulls managed to take the index higher into the .618 fib resistance area. The CCI momentum indicator shows regular divergence as the index heads higher. Look for signs of weakness and signs of profit-taking into next week.

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