Dow jones met resistance today as seen on the chart.
The unemployment report tomorrow will determine whether Dow will break that resistance and head to 10500 or drop back to 10100.
Overall the chart is bullish. Dow has corrected to 61.8% Fib line of the latest bullish rally that started in November. Stochastics are moving upwards.
Long strong sectors such as Financials.
Materials stocks are mixed. Today they are mostly down. X, AKS, AA, CENX show bearish trends. Stay out of this sector as market is bullish while this sector wants to be bearish.
No comments:
Post a Comment