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13Oct/090

December Dow Jones

December Dow Jones –Foreign investors are benefiting from increased buying power due to the seven-month decline in the U.S. dollar. Investors are taking advantage of the situation by snapping up U.S. stocks at the cheapest valuations on record. This has supported the stock market and could continue to support the market as long as the attack on the U.S. dollar continues. On the technical side of the market, Dow Jones futures traded above the previous high by 19 points, before losing momentum and losing most of the daily gains. The loss of market momentum came on a projected reversal swing day and could be a precursor of things to come. However, the trend is still pointed higher and I would need to see more of a pattern confirmation before suggesting the current rally is coming to an end. All the reversal swing day is suggesting at this time is that it is a good idea to tighten protective stops and keep a watch for a confirming reversal pattern.

December Dow Jones

December Dow Jones

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