DJIA – Dow Industrial Average (Last:24,902)

On a rather ho-hum day buyers were able to refresh the bullish impulse leg by taking out the 24,977 March 21 peak. Zooming into the hourly the P 24,989.89 was tagged on this clear pattern using a one-off ‘A’. As we are still in “consolidation” mode I expect more of the same mundane activity for a bit while longer although I wouldn’t blame you for wanting to get long using a mechanical buy at 24,853.7.