Dow inching toward the 13.000 area

The USA Stock Market closed mixed yesterday. One of the most notable is the Dow, which managed to go up by 34.54 points. However it was alarmingly up to 12.989 area before retracing down slightly. Many day trader would speculate the Blue Chip stock here to go up with the Dow to touch the 13.000 area.

Although the S&P, Russell and NASDAQ did a side way move, the Dow didn't seem to fond of a side way move. The Dow slowly wants to touch the 13.000 line. From the last Friday rally, The Dow has been making a NEW HIGH everyday.

Since we are already at overbought position, a pullback is LIKELY to happen (although that does not mean it will CERTAINLY happen). We are on a stage of euphoria here, all bad news are nothing and all good news are wonderful news.

The S&P and Nasdaq didn't seem to move in sync with the Dow this week. Both indices continuously making lower high and lower low.

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