For most of this month, the DOW Jones Industrial Average has hovered above 13,000. That's tells something to some people straight away. It is consolidating upwards. On days when the volume has been above a million contracts, the Dow has moved above 13,150. On lower volumes, the price has been lower also. That to me suggests new money is patiently waiting to go into the market if there is sign of strength.
And strength there could be. The average has moved higher, together with a positive sentiment, although at this stage that belief is not so widespread. Confidence is returning, nevertheless, and as the economy registers this in growing confidence in the Housing market and the Transportation sectors, I can only conclude that things are improving for the U.S. economy and the DOW Jones will move up further also.
Onwards and upwards!
Caveat, this is my opinion, everyone invests at their own risk.