Dow Jones Industrial Average forecast for the week of September 17, 2012, Technical Analysis

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The Dow Jones had a very positive week as we managed to finally break above the 13,300 level in order to continue to new highs. The bullishness continues, mainly because of the flight out of treasuries and fixed income due to quantitative easing steps made by the Federal Reserve again.

At this point time, the market looks broken out and ready to go much higher. This in mind, we are buying dips and believe that the 13,000 level is a significant support area now. We think that we will see 14,000 in relatively short order as the Federal Reserve continues to flood the market with liquidity.

 

Dow Jones Industrial Average forecast for the week of September 17, 2012, Technical Analysis

Dow Jones Industrial Average forecast for the week of September 17, 2012, Technical Analysis

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About:FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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