The Dow Jones Industrial Average ($DJI) experienced an incredible reversal today after testing the 10,600 level, which left many people scratching their heads about direction, including me. Fortunately, I’ve got three thoughts on the Dow, which could help to shed some light on future direction
The Dow may be headed for another test at 9,800. Today’s mid-day reversal from resistance at 10,325 all but sealed the deal for another key test at critical support. Here’s why…
The Dow Jones Industrial Average (ticker: $DJI) dropped sharply the last two trading sessions after topping out at 10,300 on June 3rd. As a matter of fact, the index has dropped 500 points and could be headed for a test of 9,600.
The Dow has traded virtually sideways over the last two weeks, but finally looks primed for a major breakout opportunity – one that could spark the next 500 point move!
