DJIA for the Long-Term Bulls

• There is no need to write much about this monthly chart. Nor are we required to perform too much analysis.


• The good news is that we've broken above the 61.8% level and that the likelihood of reaching the 100% level (2007 peak) is increased.


• However, the bad news is that we have a fairly prominent peak which formed in January 2000 that will potentially resist the bullish price action.


• So, I'd suggest being vigilant out there in January if we do not see a convincing breakout above 11,750.

-Sanjeet Parab

http://www.technicalanalysisbase.com/