21st July
2009
I do think so!
After amazing rally last week and yesterday I think the Dow is ready for pull back. The RSI is almost 70, the Stochastic is 97 so if you don’t want to go short stay out!
The index is way above the 22 ema so in my opinion we should see the Dow back to 8550.
On the other hand the MACD is still rising which gives us mixed signals. So I think it is a smart idea to use a tight stop loss.