Wow, what a surprising week: while I thought there was a chance the market would rally back to resistance, I never thought it would keep going all the way to previous resistance!
But, it’s been that kind of year, where the unexpected is to be expected. What’s next? After a 785 point move, the Dow needs a rest. Of course, that’s the expected move, so who knows!
With Friday’s employment report being fairly positive, there is now talk the housing market might also get a bang. As a homeowner, I sure hope so. But, let’s see what two complementary charts say.
Have a good week and let’s hope the market puts more points in above 12,000.
Gary B. Smith joined FOX News Channel in 1999 and is currently a regular commentator on "Bulls & Bears," including his own segment called, "The Chartman."