Betting on Gambling

01/15/2010 10:10 am EST


Thomas Aspray

, Professional Trader & Analyst

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The Dow Jones Gambling Index closed above its 16-month downtrend on Thursday as it has had a nice rally over the past two weeks. The 50% resistance level is at 405 (6% higher) with the 61.8% at 500 (6% higher), which also corresponds to the upper trading channel. The RSI completed its correction on January 5 and is rising sharply. This group was featured in this weeks Trading Lesson along with some specific stocks. View the complete article and sign up to receive the bi-weekly Trading Lessons e-letter here.

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