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The Dow Jones 30 did very well during the Friday session, bouncing from just above the 13,000 level in order to close at the absolute highs of the day. Looking at this market, it does seem like it once to attempt to break above the 13,300 level, and as such we think that the blue-chip average should have a good couple of sessions going forward.
Without a doubt, Friday will be the most interesting day of the upcoming week as the Federal Reserve Chairman Ben Bernanke is giving a speech in Jackson Hole, Wyoming that could be where he decides to hands that monetary easing is coming in September. If that happens, this market should shoot straight up. As for selling, we need to see the 13,000 level give way to the sellers in order to even consider it at this point.