Pashabxl

DOWI: Not enough momentum to jum over 16606

DJCFD:DJI   Dow Jones Industrial Average Index
Timing and momentum are very important for me. At that very moment, we are most probably faced with a rising wedge to be confirmed of course.
If we do observe carefully William%R and RSI , we are not in an heavy overbought situation were the market would react brutally upward. Instead, we are on a midway of little raising period.
Therefore, I don't think that DOWI may yet go and stay above 16606 my personal reference point.
Not that I am proud of my personal pivot, but still, it is a very usefull benchmark for me. And if we keeping in mind the level on which DOWI has closed tonight, still happy that I did the correct calculation since March 2012.
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