Dow Jones Analysis on September 13 2012

Wow looks like Bernanke and Mario are the heroes for this Quarter which will set new horizon for the global indicies.


Let check on the Dow Jones Market Chart which was closed on September 13 2012.

  Indicators ( Note using Fibonacci retracement to plot out the new support/ resistance because now it is all time high)

1 ) Trendline - Above the bullish trendline (Bullish)
 2)  Support/Resistance - formed Higher high and all high( Bullish)
3) MACD - Bullish Crossover and remain green. ( Bullish) . If 4G1R, better watchout for bearish reversal
4) RSI - Broke the 70% overbought resistance ( Bullish)

 5) STO - Broke 80% and going up. ( Bullish)

6) Ichimoku -  a) Above  support cloud (Bullish).
                       b) Conversion line cross base line (Bearish  Crossover).
                       c) Price above the baseline ( Bullish)
7) Candlestick - Shooting star was formed ( Bearish Reversal?)

Conclusion:
Bullish

Resistance at 13570 (Can be broken easily on the current state) / 13932 / 14156 / 14338
Support at 13348/ 13242/ 12984 / 12803