dow jones industrial average high - what next

dow jones industrial average high

The recent dow jones industrial average high  was interesting but what is next for the market leader. That is an interesting question. As you know sentment trader does like to watch the dow jones industrial average as this is the leader of the market, normally if you can analyse this chart correctly, you can get a gauge on what is coming next for the S&P and other US indicies, and also the global markets, as it does tend to be a leader for those sometimes.

Right now there have been some significant developments with the dow jones industrial average chart.

If you have a look at the dow jones industrial average below you can see that there is a pure line in the sand, at about the 5900 level. There is good support there the buyers keep coming in at, however we feel that the bears at the moment are not only having some fun, but winning the tug-o-war if you like.

The dow jones industrial average chart has been hitting lower highs since the start of March 2013 and that is another warning lower prices are on the cards soon. We will watch and wait.

dow jones industrial average

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The dow theory

Dow theory charts are showing us that there is strength back in the markets. We were anticipating this a few weeks ago, and it came quickly.

As you can see on the transports we broke out of the box and resistance, then become support and we skidding up higher on the positive fiscal cliff news.

Higher prices are likely in the next week or so, however I will be probably doing a larger update next week, with some interesting charts for helping us draw a clearer path.

the dow theory

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