Tuesday, July 9, 2013

Dow 4.3% away from 16,000…Key “Emotipoint” level at hand!

by Chris Kimble


The chart above reflects that some of the key "Emotipoints" (Emotional highs and lows) since the early 1980's come to a crossroads at Dow 16,000. Currently the Dow is a little more than 4% away from this key resistance situation.

The 4th of July might be behind us, yet odds are high some really important fireworks and volatile price action will take place the closer the Dow get to the 16,000 level, especially if the Dow would be able to break above these stiff resistance lines!

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