Dow Jones Index
The Dow Jones Index has been impulsively bullish over the last 10 days, gaining 500pts in the process and stopping right at the big figure at 1300. Today's selling was corrective in nature, and the intraday bounce off 12900 has virtually taken out the last 12hrs of selling - a strong bullish signal.
I'm expecting this level not to hold and offer a breakout pullback setup to get long. Only a strong price action reversal signal here would change my short term bullish bias. Bears can watch for clues at this level, or wait till 13250 before attempting to short the index.
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