Upside Target For the Dow
Above is a daily chart of the dow jones industrial average and as you can see I marked off the inverted head and shoulders bottom that has formed.
If you measure the distance from the neckline to the head and add it to the breakout level, you will get an upside target well over 14,000. Looks like we might see new highs for the dow in the very near future.
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1 comment:
Kevin, I have a hard time being bullish because it seems that investors have completely forgotten about the subprime/liquidity crunch. I haven't heard anything remotely that indicates these issues have been fully resolved. As long as this cloud is hanging over investors, I am very cautious of this market.
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