GDOW Global Dow (USD) Step Up
The Dow Global has made a similar pattern to the Dow itself with a double bottom at 2970,
the second bottom picking up the longer term parallel. Since then it's got itself trapped
within the same triangle formation we see on the Dow, still using the lower parallel as
ultimate support on down-side tests.Whilst it continues to do so the longer term trend
remains in tact.
This index has behaved in text-book fashion as the great rally progresses, with each
decline being arrested by the previous high, and moving North in a series of steady steps.
The next big test comes on the next touch of the falling dynamic (which defines the upper
boundary of the triangle formation).
At some point soon this challenge will arrive - even if it gets rejected again one more time
this rejection is likely to be the last and should be short lived if we do see it happen first.
Once it does so it should rally with all world markets to 3109 and consolidate there awhile.
A break above 3110 would in turn be the next near term bull signal for world markets in
general, opening the way for a rally back to the ATH at 3322.
This has, so far at least, been a very reliable confirming back-up signal for other major
markets across the globe.
When it breaks higher it's therefore the confirming signal to get long of your local market too.
We're looking at a 10% average rally across all major stock markets when it triggers.
Yours might do even better ...
Be lucky.
The Dow Global has made a similar pattern to the Dow itself with a double bottom at 2970,
the second bottom picking up the longer term parallel. Since then it's got itself trapped
within the same triangle formation we see on the Dow, still using the lower parallel as
ultimate support on down-side tests.Whilst it continues to do so the longer term trend
remains in tact.
This index has behaved in text-book fashion as the great rally progresses, with each
decline being arrested by the previous high, and moving North in a series of steady steps.
The next big test comes on the next touch of the falling dynamic (which defines the upper
boundary of the triangle formation).
At some point soon this challenge will arrive - even if it gets rejected again one more time
this rejection is likely to be the last and should be short lived if we do see it happen first.
Once it does so it should rally with all world markets to 3109 and consolidate there awhile.
A break above 3110 would in turn be the next near term bull signal for world markets in
general, opening the way for a rally back to the ATH at 3322.
This has, so far at least, been a very reliable confirming back-up signal for other major
markets across the globe.
When it breaks higher it's therefore the confirming signal to get long of your local market too.
We're looking at a 10% average rally across all major stock markets when it triggers.
Yours might do even better ...
Be lucky.
Comment:
Dow Global 2 hour Chart
