The trading was slow and sideways in New York when a very strong unexpected rally started for the last 18 minutes of the session. This sudden intervention took the Dow very close to a 5 months high and the close came in just a little bit below the high at 12.288. The coming week is often quiet but with just a few participants all chart points counts.
All long and short trends but the monthly are up and looks healthy and strong now.
If the Dow closes the year above 12.564.5 the monthly trend will turn up as well.
Remember that the the first week of the new year always is very powerful so be prepared for January 2.
Below is an article from Marketwatch.
U.S. stocks look to keep holiday rise alive - MarketWatch
http://www.marketwatch.com/story/us-stocks-look-to-keep-holiday-rise-alive-2011-12-24?link=MW_Nav_MA
All long and short trends but the monthly are up and looks healthy and strong now.
If the Dow closes the year above 12.564.5 the monthly trend will turn up as well.
Remember that the the first week of the new year always is very powerful so be prepared for January 2.
Below is an article from Marketwatch.
U.S. stocks look to keep holiday rise alive - MarketWatch
http://www.marketwatch.com/story/us-stocks-look-to-keep-holiday-rise-alive-2011-12-24?link=MW_Nav_MA
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