Dow - Dorsey Wright

The Dow Jones Industrial Average [DJIA] cleared another hurdle last week, breaking a spread triple top on the longer-term 200 point per box chart at 9,800. This breakout follows a move into a positive trend back in July, and exceeds the Dow's November rally high. While still lagging the other domestic equity indexes this breakout is another confirmation of new demand entering the equities market (or returning to it). On a near term basis the equity market, in general, is overbought, but the long term trends remain positive and recent events continue to fall in the category of technical improvement