A megaphone has played out before during the 60s and 70s. Just so happens that this megaphone would play out at a very important bottom trend line.
A look at the dow priced in Swiss Francs. Make your own conclusions. Symbol: DJY0 * FX_IDC:USDCHF
Long term view of the dow since the post war boom adjusted for consumer prices. Symbol: DJY0 / CPIAUCSL
... George Lindsay also identified variation on his famous pattern where Domed House formed first & was then followed by the Three Peaks part. This is my own mutation of this variation - double bluff. www.traderslaboratory.com
Weekly close below the cloud shows bearishness though the lagging line is yet to break below the cloud support. Sell on rallies looks like the theme as long as 17900 is not taken out on a weekly closing basis.
This simple RSI-MA long/short algorithm beats the Dow by a FREAKING HUGE margin over the past century (excluding dividends and trading costs). The algorithm uses a fast SMA of the RSI as a buy/cover signal and a slow SMA of the RSI as a sell/short signal. Backtest period = 09/17/1916 - 11/02/2015 DJIA = 98 --> 17,830 = +18,094% = 5.38% CAGR Algorithm = net...
Target on chart, you can see how the different time at mode signals work together to give us a good idea of where price is headed. I'll place my short orders now, hopefully I get a fill before it's too late. A retracement here would be terrific. Good luck, Ivan.
Comparing a few of the technical patterns that occurred before and during the massive corrections of 2000 & 2008, the S&P is showing signs of another large correction looming. (Again after ~ 7-8 years of bull-run). These types of monster moves play out over a period of months / years and therefor it would be diligent to observe these and other indicators over...
(Note: DOWT is no longer in a bear market after rallying the last two weeks) 2015 was suppose to be just another year of the epic bull market created by reckless central banking policies. Some Wall Street estimates for the S&P 500 were as high as 2,300. Me? I projected a contraction to 1,810 in mid-January. Whether or not the SPX will reach my target within the...
On the chart, we see two very strong patterns: Three Peaks and Domed House /bearish/ and Descending Broadening Wedge /bullish/. One of them is lying. en.wikipedia.org thepatternsite.com thepatternsite.com
Levels on chart, estimated time for the downtrend conclusion is August 14th. I'll be monitoring the support levels below to go long. The boxes represent the earnings season range and I plotted the 50% level, as depicted in Tim West's publications. You can clearly see the reaction to it in the chart. I also added the 66, 253, 50 and 200 EMAs as well as the options...
Possible ABCDE Pattern, Bullish Divergence.