If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment!
Underlying:US30 Time frame:1D
So I have just posted about the NASDAQ and noticed that the DOW chart is slightly different to it (I will post the NASDAQ chart below). On the original chart you can see the NASDAQ breaking out two days ago of its wedge formation however, the DOW does not have that same formation. More often than not you will get a similar correlation with major stock indexes.
Is it possible that people are moving money out of "growth" stocks and moving their money into more of the age old "defence" stocks or the "big boys" of the market i.e. IBM etc. That could possibly explain the over-performance of the DOW in comparison to the NASDAQ. Interesting times are ahead!
Hi, firstly I must say that you look just like my daughter!
Your thoughts on DOW & NDX are in tune with my own BUT I have noted that in this continuous bull market the normal indicators are not too reliable.
I am not sure what event will cause the market to turn though?
oaksacorn
⋅
@Geofftv1, Well said Geofftv1 - key word being continuous. Market feels like Dow 1928, Dow 86, Nikkei 87 and Nasdaq 2000. Scale up small sales between 36k and 42K is the long term trade I am waiting for. If the war drums settle down and tax reform comes, these will be the long term levels to let go. Meanwhile, trade other stuff :-). Safe to say, Geofftv1, you have a beautiful daughter :-).
Your thoughts on DOW & NDX are in tune with my own BUT I have noted that in this continuous bull market the normal indicators are not too reliable.
I am not sure what event will cause the market to turn though?