26/02/2013

DOW month top Monday reached 14.081 only 112.5 points below the all time high at 14.193.5

DOW month 11:40

I have never thought that the Dow would take a new all time high but technically the 8 MA must turn down for a bear market to start. The support for a higher 8 MA the next three months is very strong. That means either a higher or sideways trend until May. Look at 2007 top formation and compare current single bar. DOW must get below 13.000 for the 8 MA to turn down during March.

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