Dow Jones and GLD (Nov 23, 2009)

I am going to focus on the Dow Jones Industrial Average the charts are easier to analyse...SPX is a very big index and overhead resistance proves to be quite heavy...not sure if there are any benefits in trading it.

In the near term, I see the Dow moving towards 10552 - 10600.




I am also looking and GLD which I think still have a lot of potential upside. GLD has never reached this high in history, so there is no overhead resistance to be see....it can go as high as long as there is demand.... At the moment 114.28 is the projected target if we use fibonacci projection.