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Saturday, February 19, 2011

Dow Jones Bullish Breakout

Looks like Dow Jones running wildly up like a strong Bull..... (this is what you called EXTREME BULL RUN!!!!  )

Dow Jones just broke out from the resistance turn support at 12341 and close at 12391 .. Fantastic..

1) Trend Line - Uptrend ( Bullish)
2) HH - Continuously breaking the higher high ( Super Bullish)
3) MACD - Kiss of life on the 17 Feb and rebound up and forming a 4R1G pattern. ( Start of Extreme Bull Run)
4) RSI - At 90% ( Super Bullish)
5) ADX - Strong momentum and bullish

Dow remains to be bullish next week and let wait for any potential bearish reversal with 4G1R indication at MACD and broke the suppport at 12341 (S1)

With this good trend, Dow will most likely go upward to test the next resistance at 12607(R1) and breaking this will be good news.. 

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