What’s So Important About The 13,180 Level On The Dow? (Video)

By Chris Diodato – TradersBase.com

Yesterday morning was quite interesting.  Watching Bloomberg TV, like every morning, I hear the same woman say in the course of twenty minutes.

  • Markets are up on strong earnings
  • Markets are up on hopes of ECB intervention
  • Markets are up on hopes of Federal Reserve action in September
  • Markets are up on increased investor confidence

Needless to say, the media had no idea why the market was up, and in the end, investors didn’t either, since the market finished exactly where it started today.  Once again, forming a gravestone doji pattern on low volume, we’re back under the 13,180 level on the Dow Jones Industrials.  Why is this level so important?  Watch to video to find out, and also learn a little about ratio analysis!

Happy trading!

~Chris Diodato

Christopher Diodato

About Christopher Diodato

I have been trading since my eighteenth birthday to pay for my college tuition. It was at first rocky, but now trading is my love, my work, and my passion. In addition to my experience in markets, I have passed all three exams to obtain the Chartered Market Technician (CMT) credential. I believe that I am the youngest to ever do so! I want to help out small investors to make some money on the side. There's a common notion out there that "big money" rules all. I disagree. With enough hard work and discipline, anyone can become the next Paul Tudor Jones!