Dow Jones Industrial Average Futures Forecast December 12, 2012, Technical Analysis

The Dow Jones futures shot straight up after initially starting the day mildly soft. The candle looks very healthy as we are well above the 13,200 level, and as a result I do believe that this market will continue much higher, barring any type of surprise out of the Federal Reserve later today.

It appears that the marketplace believes that the congressional discussions about the so-called “fiscal cliff” are starting to make some signs of progress, and as a result investors will pile into the stock market. I firmly believe that as long as the Federal Reserve remains dovish, this market is more likely to head towards 13,600 than 13,000. On a break of the highs from the session on Tuesday, it appears of this market will continue higher.