Dow Jones is moving up

...and you will say, "idiot, of course it is moving up, everyone can see that it went up by 233 points already!"


Fig 1 DJIA Daily Chart

However, I am not referring to today. What I see is that RSI is reversing up with divergence as compared t 25th May 2010. It is now hovering at the 23.6% fibonacci retracement line of 10,138. My guess is that it will be resisted by the 21 days moving average at 10,229 and previous high of 10,316. But at least for the next few days, it will be up.

Similar to STI, the 21 days moving average has crossed the 89 days moving average on 24th May 2010. Dow Jones has also reversed.