Dow Jones Industrial Average Futures Forecast December 13, 2012, Technical Analysis

The Dow Jones Industrial Average futures rose during the session on Wednesday after the markets anticipated the Federal Reserve coming out and adding to the quantitative easing. We have broken above the 13,200 level, but found quite a bit of resistance above it. This would have been expected, and as a result we think that we are in the process of breaking out, but it is going to be a bit of a fight.

Because of this, we want to wait until we break the highs from the Wednesday session in order to start buying at this point in time. As for selling is concerned, we see far too many supportive areas all the way down to the 13,000 level in order to be successful doing so.