The Dow Industrials remains in an uptrend overall, but the senior Average is hitting some resistance from the November highs just above 11400. It is possible that a trading range takes shape after the sharp advance from 10000 to 11400. Key support is based on the lows extending from mid October.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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