« New All Time High for Dow Transports | Main | The S&P 100 Takes the Lead »
March 16, 2006
A New 52-week High for the Dow Industrials
Is a new 52-week high bullish or bearish? Some may consider the Dow overbought and in a resistance zone from the 1999-2001 highs. Yes, the Average is getting overbought. And yes, there is a lot of resistance around 11000-11500. These are potential problems. The current state of the Average is bullish though and we should expect further gains.
Posted by Arthur B. Hill at March 16, 2006 09:17 AM