Hey PA, on the money with your thoughts imo. Funny how Obama's...

Hey PA, on the money with your thoughts imo. Funny how Obama's bank plans/regulations happened to be announced just after the DJIA tested the long term support trendline and managed to close above it (Wed night).

The signs were there for us to see on Thursday, should have known that when the trendline gets penetrated even if it closes above its a BEARISH sign!! Will know next time, it hit it twice the two days prior and bounced of it, US banks got nothing to do with us but can't go against general global sentiment and herd mentality i guess!! I swear his lackies put out that statement on purpose knowing how delicate the DOW was poised on the charts, I am sure of it actually so they could drive it down a bit! I think the China saga and talk of asset bubble etc a worry for us though!

I think that last trendline underneath current price may get tested and then some consolidation before resuming upwards. The monthly stochastic is not yet overbought leads me to believe it will go higher. The last time the monthly stochastic was in overbought was in Nov2007, didn't stay there long (obviously lol).