DOW UPDATE: Today we finally got our second close above DOW 11,220 resistance level that MITA set forth last Wednesday (a.m.), December 8th in MITA 1,716:
...<DOW resistance for me is now DOW 11,220 and resistance is DOW 11,020 underneath DOW 11,050 prior "wall">...
The DOW closed at DOW 11,244.89 and at session highs after being down all day long. Tomorrow we go for three closes in a row above 11,220 as this has only happened once before when we set new DOW highs Aug 23 - 25. We again tested first DOW 11,150 support level as we hit intraday low of DOW 11,124.39 and again snapped back up. Market continues to climb this wall of worry and now needs help from financials to take it higher to next level.
Higher DOW Resistance levels remain from MITA 1,916:
..<DOW resistance is really DOW 11,310 and if we take this level the old high DOW 11,326 will be left in the dust as roadrunner beep beep bull will smell blood and fear of loss sets in and the fuel will be set to the fire for this updraft. DOW 11,390 first new upside virgin territory. DOW 11,550 is second virgin blue sky.. DOW 11,900 before Christmas if Tuesday CPI is benign>...
If the break-out tomorrow occurs in DOW, DOW 11,220 becomes new support, with DOW 11,150 lower critical support firmly entrenched. However, let us not put the cart before the horse.
Best Regards, J.T.
|
