DJTA made a DOUBLE TOP between April of 1998-1999 before the onset of bear market. It made another TRIPLE TOP between May of 2006-2008 before the market crashed. Both of these tops have MACD Bearish Divergence associated with it. Hence i would make a bold analysis that DJTA is making the 1st top of the current market top now. Whether current market top will be a Single/Double/Triple Top before the market goes bear, we shall wait and see. So far there isnt any conclusive MACD Bearish Divergence to talk about!
The average interval between the double and triple top was about 8 years. Therefore, we are likely to see DJTA consolidate until at least summer of 2015.
The uptrend line is not broken yet though my earlier DJIA analysis shown that the uptrend line had been broken. In order to see a substantial correction, DJTA has to break the uptrend line to confirm and tally with what DJIA is showing.
The average interval between the double and triple top was about 8 years. Therefore, we are likely to see DJTA consolidate until at least summer of 2015.
The uptrend line is not broken yet though my earlier DJIA analysis shown that the uptrend line had been broken. In order to see a substantial correction, DJTA has to break the uptrend line to confirm and tally with what DJIA is showing.
Comment:
only single TOP?
