Tuesday, December 27, 2011

"Dow Reverse Head and Shoulders" (DIA)

From Bespoke Investment Group:
On Friday, the Dow Jones Industrial Average broke and closed above key resistance.  As shown below, the index broke above the neckline of a reverse head and shoulders pattern, which is a bullish technical formation.  This opens up quite a bit of upside room to run before any new resistance levels come into play for the Dow.