Weekly Update on Dow

Dow (26,559)

Dow continued to form its mini wave 3 of iii of D, a pessimistic option.

A more optimistic option for Dow is the possibility of punching through its ceiling. But under this scenario, Dow has to be dynamic with high volume. The price movements during the holiday shortened week were not dynamic but the daily volumes were impressive, the weekly average daily volume was a respectable 312 million exceeding the previous two weeks daily average of 223 million despite of the long weekend. Will the daily volume go above 400 million when Dow moves closer to 27,000 level?

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