Dow Jones: on the up!

I would not normally use 100x3 charts, as the 100 point box size strips out a lot of noise. They are good for big picture but clearly loads can happen in between.

This is the current picture on the Dow. All looks very positive. We need to see a break above that 11,200 line to give those upside targets a bit more credibility. Bears can take heart that that previous high has not been taken out.

What a difference 2 months makes. Back in July, this same 100x3 chart showed that on balance the risks were to the downside. The 50x3 and 25x3 charts are better for providing shorter term indications.