Back in 20 Nov , i wrote that "Dow could be due for a powerful bounce up from here ???" Then Dow was trading at around 7500 points . Yesterday Dow close at 8775 . It has rebounce almost 1200 points . So what next ?
Once again Dow breakup 50MA , but since last mid-Apr08 , it has not been able to stay above it convincingly . Could this time be any different ??? Could it be year end window dressing only ???
Watch the first resistance at around 8960 points . The Obama upcoming economic packages might surprise the market which could push it up to the next key resistance at around 9700 points . We need to be very careful if Dow reach that level . I would be very tempted to short Dow when that level come . Watch closely . Interesting time ahead .
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