Dow Breakout

By Colin Twiggs
October 5, 2006 11:55 a.m. AET (9:55 p.m. ET)

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After a narrow consolidation below 11750, the Dow Jones Industrial Average broke through resistance to form a new all-time high at 11850 -- a strong bull signal. A retracement that respects the new support level (11750) would confirm the breakout.

ASX Australia

The All Ordinaries retraced to test support at 5100 before reversing strongly at the opening, confirming the breakout. Expect a test of resistance at the May high of 5320 and a possible new high. Twiggs Money Flow (21-day) signals accumulation.


Gold has fallen out of bed, breaking out below a large symmetrical triangle, and is headed for a test of primary support at $540.

Source: Netdania

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