Dow Jones Industrial Average Forecast October 18, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The Dow Jones Industrial Average shot straight up during the session on Wednesday as the bullishness continued from the 13,250 level. This area caused a bounce, and thus proved the area to be supportive after it had been resistive in the past. This market looks like it is just going to grind higher in this pseudo-channel, and as such we are buyers of the Dow Jones via the futures markets, and ETFs.

With the Federal Reserve ready to print as many dollars as it takes, risk assets such as the Dow Jones should continue to appreciate over time. Is because of this that we feel this could be a continuation of the overall move.

 

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