20091015 1650 DJIA Daily Chart Study. Wa la !!!

The Dow surged through the 9,900 and 10,000 level and stay above it to closed 10015.86 in respondse to regional market gain. Chart wise, the big white range bar candle touched and stay at the upper Bollinger Band, Expanding Bollinger Band width, rising MACD Histrogram and increasing volume reaffirmed the bullish movement. Having said that, with price trading above upper Bollinger Band also sending an overbought signal to all that profit taking will take place anytime. Meanwhile, at last look, Europe market trading mixed. Hang Seng futures closed at a premium of only 4 points to its cash market.