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14Oct/090

December Dow Jones still bullish

December Dow Jones –Dow Jones futures traded on both sides of unchanged and closed steady. There doesn’t seem to be enough momentum to push the market either way, so it remains in trading limbo. While the trend is still bullish, the market is moving to the right of the centerline trend indicator, suggesting the market is losing momentum. The Dow Jones futures reached a new high on Monday’s projected reversal swing before losing most of the daily gains at the close, but it is Tuesday’s “trail day” that could give the real clue as to the next move in store for the Dow Jones futures. At the time I'm writing this commentary, the indicator is neutral to bullish. I’ll wait another day for a confirming pattern before taking any position.

December Dow Jones

December Dow Jones

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