Chart of the Week: Dow Jones Trading Range

After the recent run up, the Dow has been rangebound. This present consolidation represents a way for the market to catch its breate and reload afte rthe big move since the May bottom.

While I’d expect a little retracement and or back anbd filling, I suspect too many other people are hoping for that to happen. Therefore, wait until this range is resolved in either direction before putting too much money to work.

Chart of the Week:  Dow Jones Trading Range

click for larger chart


I plan to buy the breakout above 10,610 on a closing basis or if we drop below 10,400, then find an appropriate retracement (Fibonacci?)

I am watching the other major indices — Nasdaq and SPX — for confirmation. Its also worthwhile to keep an eye on the Dow Transports, given yesterday’s Baltic Dry Freight Index.


Random Items

Neighbors as Marketing Powerhouses

collaboration on the Internet is shaking up business

Puzzled and Worried About Global Rates


dilemma: fixing the problem

Front Lines Of Asian Battle Against Bird Flu



Quote of the Day

past cannot be changed. The future is
yet in your power." ~ Mary Pickford

Category: Markets

The MSN Spaces Ghetto

Category: Weblogs

Juggling Info

Category: Investing

Baltic Dry Index

Category: Commodities, Economy

Casio Exilim EX-S500

Category: Web/Tech

Julian Robertson interview

Category: Economy, Investing, Real Estate

WSJ: Debate on the Fed

Category: Economy, Fixed Income/Interest Rates, Investing, Politics

Special Project in the Works

Category: Financial Press, Weblogs

Purcell & Prediction Markets

Category: Markets

The Prediction Markets Chalk Another One Up!

Category: Markets, Psychology