The Dow Jones Industrial Average

The Dow finished up 0.64% last week. The move was made on lower volume and reached a psychological tipping point of 11,000.

Since the last correction, the Dow is up just under 11% and is probably on the extended side. Regardless, the volume is the only warning sign. Friday’s trading closed just below highs for the day and broke into higher ground.

We have several distribution days, but we are not in the correction-warning level of 4 – 7. Also, the volume level on the distribution days was greater than the day before, but not above the 50MA for volume.

For now, we are still in a confirmed up-trend. Add new positions and hold winning ones until further selling takes place.