DOW Powering Up Yet Again

As of today, It certainly appeared that everyone had forgotten about all the doom and gloom of the economy and subprime issues as the DOW tacked on 153 points to close near the 61.8% at 13,657.

The DOW has put on 521 points in 3 days.

Looking at the Daily Chart at this point just makes it look like a minor pull back and now it's back to business and shooting higher. If the DOW closes above the 61.8% level on the daily there will be a higher probability to retrace 100%, but in this volatility be prepared for a sizable move in either direction.

One might think that a 521 point uncontested move up would be screaming for a pull back pretty soon.

DOW 6 Month / Daily Chart