DJIA – Simple Trading Update – 6 November 2013

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The DJIA proved its resilience pushing through resistance to a new all-time high today.  It seems just last week we were saying relax, the move downward wasn’t a big deal… yet…

Powered largely by a +4% move in Microsoft… which was also 1 helluva breakout from the extended congestion period MSFT has been in.  Look for the stock to go much higher.

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the Dow set itself up nicely for a potential move higher into the end of the year.  We expect, absent some intervening event, the Dow to go on an extended run to the upside, perhaps eclipsing 16,000.  That opinion is unlikely to change unless price breaks 15,500 to the downside.

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