Before you jump on the DOW's Bull Market Bandwagon, you should know where long term fibonacci resistance values are. The Dow is currently at 9,286 - a mere 100 points below the key 38.2% fibonacci value of 9,387. (I used 14,036 and 6,514 as my base calculation values.)
The next key fibonacci value is at 10,275 (50%) and the last hurdle is at 11,163 (61.8%). Any failure at these key points will most likely result in a retest of a low. If 9,387 is not broken, look for a retest of the 6,500 low. If 9,387 is broken, look for the DOW to test 10,275 and so forth and so on. Be careful! The DOW is currently overbought and overvalued and this is confirmed by the RSI and MACD on the chart.
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