ZLBT Chats

Thursday, February 18, 2010

The DOW @ Intraday, 5 Days, 1 Month And 1 Year Periods

You won't see this anywhere outside of BT
Please click images to ENLARGE
Upbeat Data & Fed Forecast Perks The Dow
The bulls explored the black for most of the session today, with encouraging assessments of the housing and industrial sectors, an upbeat economic forecast from the central bank, and a handful of strong earnings reports combining to keep the bulls on top.
The Dow Jones Industrial Average (DJIA – 10,309.24) advanced 40.4 points, or 0.4%, today, settling atop the 10,300 level for the first time since Jan. 21.
Despite the blue-chip barometer's upward trajectory of late, the index is still battling its 10-week trendline, which hasn't been defeated on a weekly closing basis in more than four weeks.5 Days Dow Recouped 270.86 points (+2.70%)

This is the most noticeable gains over 5 days since mid January 2010
A flash in the pan or a rebound waiting to be canned?

A Rousing Performance Over The Past Twelve Months

But the victory has taken it's toll and the bulls need to hunker down & regroup before any further advancement can be considered. The bears sensed this ........
The stale bulls need a recharge for another push uphill. Time to set up base camp around the 10K level.
Stay alert for any incoming. You bet the bears will be lobbing a few bombs from higher grounds.
This is gonna be another long hard climb ahead.
NOTE: ZL have an uncanny feeling the bears are still around and amassing for another go at the bulls.

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