The Dow Jones Industrial Index has now entered its resistance area. First resistance point is at 9.412, which is where 38.2% of the fall from 14.198 to 6.470 will have been retrached.Just above we find the wave iv of 3 resistance area streching from 9.673 to 9.807.
If wave "2" isn't finished yet we are clearly in the final starges of the wave "2" rally.
Interesting enough we are seeing a bullish sentiment as high as it was in late October 2007 when it reached 88% bulls, we are currently seeing the same number of bulls.
It's time to take cover from the most impressiv second wave rally ever seen. Maybe the Chinese stock index will lead the way again as it did at the bottom, when it bottomed already in late October 2008. In mid July Chinese induvidials opened 484.799 stock trading accounts - Sounds like a mini buble is just about to blow in China.
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