Short Term Bull Trend Holds...

The Dow held its short term bull trend today as it gained 82.97 points amidst expectations of better CPI numbers next month and a slight retreat in oil. Yes, even though the poorer than expected CPI number resulted in the market opening downwards, optimism quickly returned to the market as investors buy into better CPI expectations for next month with the persistent drop in the price of crude oil. In fact, the US economy does look like it is recovering with the US dollar also gaining considerable strength lately. In fact, the US dollar staged the biggest recovery against the Euro this past month than it has ever did! This ended the forex "holy grail" of shorting the US dollar. The gain in US dollar would also help curb crude oil price. All these helped make the US an attractive investment once again. On the technical front, the Dow continue to rise along its short term bull trend and if the trend holds, we should see it make a new monthly high by next week. Short term resistance for now is around the 11750 area.

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Opsi Saham!