We broke through some powerful resistance (12,700) today; volume is higher; bullishness is eeking into the market. The next hour (3-4pm) will be interesting - we'll see if today's gains will survive.
The next area of resistance is 12,975 - a little more than 100 points away. We've got the October downtrend line and the 200DMA there, ready to go to war. However, the 2003 uptrend line and the 50DMA are joining forces below. I bet the DOW will get pinched into this triangle, and then head higher.
So what's the GAMEPLAN? Let's see if the DOW can break through and find support at the 200DMA.
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