Tuesday, June 2, 2009

Dow Intraday: Watch the Grass Grow

or paint dry. After the huge ramp-up yesterday, Dow Jones Industrial Average is in a narrow range (as of 11:54 am PST, upper range).

Here's Dow's 5-day 15-minute chart. We seem to be waiting to see what happens to today's intra-day tiny cup. As you see, the bigger 3-day irregular cup broke to the upside on a highly suspiciously large volume at the end of the day.

Dow is hitting the 200-DMA (8,751.30) by the way... Nasdaq has broken free of that line 5 trading days ago, and S&P 500 popped above it just yesterday.

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