Dow Jones Industrial Average Futures Forecast November 7, 2012, Technical Analysis

The Dow Jones Industrial Average futures rose during the session on Tuesday as we bounced from the 13,000 level yet again. The present area reaches to the 13,200 level, and is very much consolidation. If we can get above the Friday highs, we think we would continue to grind higher to roughly the 13,500 level. However, we also see the possibility of a return to consolidation and down to the 13,000 level. With the US presidential elections going on during the session on Tuesday, is very difficult to read too much into these charts until the election results are known. Once they are, we can judge a reaction out of the marketplace with a little bit more confidence.

 

Dow Jones Industrial Average Futures Forecast November 7, 2012, Technical Analysis
Dow Jones Industrial Average Futures Forecast November 7, 2012, Technical Analysis

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