Yesterday, the Dow Jones Industrial Average ($DIA) broke out of a triangular pattern it’s been residing in since hitting highs of 26,700 in late January. Today the index has picked up the pace with a 1% gain as I write, further adding to growing (but certainly very cautious) optimism. The next obstacle the Dow will face is it’s 200 Day Moving Average (DMA) which coincides with another, often stubborn resistance, the round number. 25,000 is the level to beat, and It’s likely, as was the case earlier this year, that the index will give this zone a very thorough look-over before moving on.
Will Earnings Season be enough to get it over the line?
Author: Stuart Langelaan
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