Long

DOW JONES The RSI shows extension to this rally. 30500 eyed.

My focus on DJIA is on the 1D time-frame where the RSI is approaching the 77.000 Resistance. This is a 5 month old trend-line and it appears that with all the positive fundamentals involved, the rally can be extended until this level is tested.

An even more interesting find is that every Top since the March meltdown, is on (or near) the -0.382 Fibonacci extension of the previous. That was spot on for the June 09 Top and the September 02 Top. This time the -0.382 Fib is at 31000.

Does it make sense to target 30500?

Recent DOW JONES signal:

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