Dow Jones Industrial Average Forecast October 16, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
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The Dow Jones Industrial Average rose during the session on Monday, bouncing off of the 13,200 level. The last couple of sessions have been shooting stars, so this of course will be an encouraging sign for the buyers. However, we have not cleared the resistance that we have seen over the last couple of days. This essentially puts is in a "holding pattern", and as such we aren't doing anything at this moment in time.

A clear move below the 13,200 level would have us shorting this index via the ETF market, and probably the futures market as well. As for buying a, we would prefer to start out in the ETFs, and then try to work our way towards futures contracts as we continue to gain a higher.


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