A Quick Update to My Primary View
Last Sunday, I wrote under my daily chart of the DOW, that it wouldn't surprise me if the markets pulled back from their immediate down trend line before we advance higher. The markets did just that last week and consolidated the late November advance.
The DOW finished the week right back at the down trend line. And while it's feasible for the markets to continue their consolidation and expand that pattern, I expect the markets to trade above the down trend line next week. A break above the down trend line suggests targets of the 20 day moving average (currently 9,000), 9,250, and 9,550 as targets for the advance. This move should finish a little abc wave pattern up.