Never closed below MA50 since election
Classic theory. Had to stretch $DJT (red line). Let's see if $DJIA (blue line) follows it. Suggests ranging for months.
#DowJones 21K? Monthly chart could be setting up for "head" part of shoulder at 21,000. $DJIA $INDU $DIA $DJX $VXD
#DowJones 21K? Monthly chart could be setting up for "head" part of shoulder at 21,000. $DJIA $INDU $DIA $DJX $VXD $SPX $SPY $VIX
#DowJones 21K?? Monthly chart could be setting up for "head" part of shoulder at 21,000 $DJIA $INDU $DIA $DJX $VXD $SPX $SPY $VIX
Thinking a big bear flag. We need to get to DOW 18,200 to 18,300 range.
Still positive but yesterday's candle needs attention
If flag breaks upwards, chances are to break May'15 highs
Ratio Spread towards it's highest reading, possible cycle low
If you see a triangle break out you are bullish
S&P saw a slight pullback from as buying as demand contracted. In the process cumulative selling gained some momentum; however, prices managed to close higher. This indicates that the market appears to be in "strong hands." Note prices are still finding support along the "mean" of Andrew's Pitchfork. The bullish trend remains intact. I speculate there will be...