By FXEmpire.com
The Dow Jones had another positive session on Friday as there was very little to deter the buyers in this market. However, we are pressing up against serious resistance at the 13,300 level, and as such we think that buying at this point in time is rather reckless. We do however believe that the market will go higher, as it has been extremely resilient. In other words, we want to see a daily close above 13,300 in order to get bullish of blue-chip stocks again.
As for selling the blue-chip average, we see absolutely no reason to do so as it has been so bullish. We see support in the form of the 13,200 level, the 13,100 level, and most certainly at the 13,000 level. This makes a market that is almost impossible to short. Because of this, we are to simply going to step in and buy on the dips.
Click here a current Dow Jones Chart.
Originally posted here
