Sunday, September 22, 2013

Dow Jones 'rebalancing' a sign of the times?

DJIA @ Close Friday 09/20/2013
In time to celebrate the 'new & old' changes to the DJIA; persistent Divergences (Negative) may well take hold on the Industrials.
If so; then a simple 38% retrace of the gains from late 2011 could well be the result.
That 'result' would witness a move back to the 2012 October High @ 13,661 & 38% of the gains since 2011...with the risk being a larger pullback to 12,471 (62%); the point @ which this potentially last leg of the 2 year old rally started from.
QE 'that'?