TechnoMeter

Dow Jones Bullish Breakout Continues to Fresh Two-Month Highs



US stocks continue to show strength after the February pullback helped to build-in congestion formations across a number of indices. In the Dow, we looked at a bullish setup on Tuesday of this week, and prices have promptly took out both topside targets as buyers have continued to drive. This led to a bullish break of the symmetrical wedge formation that we've been following; along with a print of fresh two-month highs as buyers have remained in-control.

At this stage, those looking at longer-term strategies would likely want to await some element of pullback before looking to continue the move as the short-term formation here is quite stretched. The prior high could be of assistance, and this takes place at 25,078. This can be connected to the psychological level of 25,000 to produce a potential support zone that could be utilized on a pullback to open the door for bullish strategies.

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