DOW

Oh well the short did not last long....let's see if the Dow can stay above the 14198 level today.
I'd be surprised if this moves far away from this area as like I said earlier the NFP comes out Friday and that can make a big difference.
Watching closely

Here's a quick analysis of the Dow when it has taken out it's previous (all time) highs over the years...

on the chart you will see: est breakout targets based on previous range vs actual top price and the respective difference, hopefully the chart is self explanatory....

apart from what i have put on the chart, there are some other observations to be made with respect to the length of time it has taken the dow to get to it's previous highs and once it has, the results thereafter as an example....

dl.dropbox.com/u/40497882/dow_historical%20breakouts.JPG

just something to ponder

Surely the only sensible option now is to go long at 14198 witha stop below the 14149 high?

If there's a chance to do that, that is....

Here's a thought, long term bears have been holding on the bearish w3 scenario, where's that leave em now

dows in a nice channel currently on the hourly chart.
Im long from friday and will close my long if the lower channel breaks.

According to UBS the DOW will reach a top of around 14540 before falling back 5-7% moving in to Q2. Can you believe the index was as low as 12500 only 5 months ago. Madness.

Interesting to see what happens next but the DOW has taught me a very valuable lesson about markets. I will post my experience later.