The Dow Continues Our Game Plan

One more week has passed and the Dow has traded largely sideways still while the weekly 30 MA moves yet another step nearer. From the established long term bull trend and the price resilience over the past few weeks, I would say a rebound is highly possible when the weekly 30MA moves nearer to the weekly candles. There isn't going to be much releases to look forward to this week that will move the market significantly except for the crude inventory numbers. Crude oil prices have been rallying since June and still looks to be very strong. A sustained rally in crude oil prices would put pressure on production prices and the stock market as a whole. So far, the Dow doesn't seem to be greatly affected by it and the Nasdaq composite has taken a boost from it. How it will lead on to is certainly hard to predict in the face of such resilience.


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