DOW update

thumb_8.8.09_index_indu_m_--_dow_jones_industrial_averageNote that the DOW is trading under the old 2000 downward trendline resistance , which was broken to the upside in 2005, only to re-emerge in 2008 as a struggle for bulls. We are right there again, albeit lower, and why DOW 9422 (38.2% 2007/2008) holds additional importance. BPNDX (Nasdaq Bullish Percentage Index) closed Friday at 91, the highest level since late 1999. Unless you are near your monitor on a daily basis, cash is a position.{sharethis}