As posted in my last commentary the CounterTrend in the Dow, Euro, and Bank of America continues. Stochastics indicate the potential for further upward movement. The key test area for the Dow is now the 10386 level, for the EUR/USD(FX) 1.2350, and for Bank of America 16.05. At these levels, the DJIA and Bank of America will be above the downtrend body. The fly in the ointment is the EUR/USD(FX). The trend body is so huge that the movement indicated will not take out the downtrend, and because of the direct relationship, further pressure on the DJIA and BAC is probable.
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