Thursday, April 21, 2011

Dow Theory update: New high in Dow Industrials

The US index Dow Jones Industrial made a new 2011 high after the Transport index made a new high on 31st March.

This validates the bullish stand. The dip in mid March did triggered a sell signal when the 50 SMA was broken.
But the recent swing low above 50 SMA was a buy signal. The above average volumes on breakout is a good sign.

The Transport index in remains in bullish trend.


The daily macd is though in sell mode but it has started turning to bullish mode.

No comments:

Post a Comment