Another Juncture - DIA on target at 200 day MA as NAZ & S&P Lag
As stated in earlier posts the DOW breached significant support on 7/31/14 and is now paused at its respective 200 day M/A while the NAZ and S&P lag short of their own respective 200 day moving averages. A likely resolution at this juncture is a DOW corrective continuation that targets a long term uptrend that began its development in the fall of 2011, hence a DOW NT target of approximately 15800. Consequently the lagging NAZ and S&P should find support at their respective 200 day MA's. If such price action unfolds it's highly probably that the US equity markets have achieved long terms highs a/o July 2014 and will not revisit such price ranges for an extended period of time.
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