themarketzone

Suggests that last week's run isn't over yet

AMEX:DIA   SPDR DOW JONES INDUSTRIAL AVERAGE ETF
Last week's bullish turn created a weekly bullish Pinbar in $SPX             that closed above its 200 SMA line again. The Dow completed a bullish Gartley pattern and rallied from the PRZ.

The chart shows the pattern's target levels - 176$ and 179$ - and between them, the major resistance zone near 178$ that includes the broken 200 SMA line which now is a major resistance line.

As long as $DIA's price stays above 170$, this bullish pattern is valid and therefore this bullish scenario.

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Tomer J,
The Market Zone - You trading Edge
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