Thursday, September 10, 2009

Can Dow break its upper trendline?

Dow closed its Thursday session with a gain of 80 points (+0.8%). This is the fifth gain for Dow. In 5 trading sessions, it managed to put on 347 points (3.7%) and moved closer to its upper trend line. Can it break its upper trend line?

The followings are the 3-month chart for Dow, S&P and Nasdaq. Nasdaq has already moved above its upper trend line, what about Dow and S&P? Take a guess.

Approaching

Touching

Breakout

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