Dow at a buy point?

Taking a look at a WEEKLY chart of the Dow Jones Industrial Average (INDU), we see that the index has fallen into ascending support of the three-year trend. Overall, the story is fairly simple; should the Dow break below 12,000, the event would violate support of the relevant range and could give bears reason to pile on supplemental pressure. Over the past few years; however, the ascending trend has held ground when tested, thus, it's too early to count bulls out just yet.

Exit is everything.

Mark Whistler

6/12/08