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The DOW hits 11K. So What?

Whatever investing website you went to yesterday you would have run across a headline (or two) which made a big deal about the DOW reaching the 11K mark. Did you stop to think about why this is a big deal?

If you do a little technical analysis and look at a 4 year chart you will see a few things. Here is the chart:

DOW Chart

In this chart we see the 11K level corresponds to where the market was just before the major market downturn back in late Sept 2006. The technician might say this level would provide some level of resistance and we should expect a stall sometime in the near future.

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