Technical Review of Dow Jones Industrial (INDU)
INDU continues to set new all-time highs, suggesting leadership. The recent breakout above 33,228 (3/29/1) suggests next target to 34,385, and above to 36,586 (161.8% Fibonacci Projection), and then to 40,923.5 (V-breakout target. The RRG study on INDU suggests more than half (17 INDU stocks) are residing in Improving and Leading Quadrants. INDU leaderships continue to be concentrated within cyclical names.
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