I am watching the markets and thinking is this the pullback? Two days don’t make a trend, but I was looking at the DJI and noticed something interesting. For the past month approx 12,670 has been a sort of resistance point. The market has taken 7 runs to 12,670 and only once did it get over to 12,674 before sliding back.
Looking at the charts for the past bull run it usually takes about a month to move past resistance points. The market has moved sideways for better part of January and part of December, thus I wonder. If we get past the resistance point by the end of next week all should be ok. BUT, if we can’t get to 12,700 I think we might be in for quite a bit pullback…
Hmm, maybe we all should lock into a bit of profit?