Stock Market Analysis

Wednesday, June 16, 2010

Dow Breaks Out!

The Dow made an excellent and critical break above its 30MA today, closing up by 213 points.

Even though volume was lower than the recent average, the breakout today is an extremely critical one that put a question mark on the intermediate bear market continuing. However, it is still too early to tell if this is the end of the bear trend as the Dow needs to retest the 30MA and establish it as a new support level.

For now, the Dow remains in a short term neutral trend, intermediate bear trend within a primary bull trend.

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