Back on May 28th, I profiled a possible move of the DOW to 10750 to close the gap from March. It seems we are on track to hit that number, even though postive sentiment extreme at this point requires some pulling back. I'm inclined to take a short at YM 10616 (DOW 10600 or so)if it fails there, pick up a few points, then switch to long up to the gap close. After that, bearish bias returns, as GDP numbers from June will show a decline thanks to higher oil.
This entry was posted
on Wednesday, July 13, 2005 at 7:22 PM.
