Dow touches 200 day average for support.
The Dow has moved down 120 points to the 200 day average in trading last night and found strong support
to close 196 points up. This is a very bullish sign of higher prices in the near future.
The 200 day average is now support at 17066.
Primary Trend is UP.
During the morning webinar the support level of 17500 has been discussed for the past 3 weeks.
This level is the critical line to be held into the close of the week.
This reporting season will be made transparent on exchange rates versus growth.
This daily chart of the DOW shows the 3rd retest of the lower pennant line, this pattern is now setting up to break out.
The primary trend is UP. ( Weekly)
A break below this level would see the 200 day average @17,000 tested as it has been many times in the past.
Next support at 16,700