James G

Looks Like We'll See Dow at 10K - Soon?

That is wishful thinking, not good charting. If, and only if the Dow hits 10,000 would we have formed a new trading range and even then a trading channel would not be established. The trading channel is formed by the latest three highs and the latest three lows. Look again, they still point downward. It wil take more than a "blip" to reverse the downward trend. We will need three higher highs confirmed by at least two hlgher lows to indicate a change in trend. Don't try to tell the market what to do.Let It tell you what to do. "The trend is your friend."