CLICK ON CHART TO ENLARGE On the last trading day of the year, its common for the media to look back over the last 12 months. I wanted to close out the year looking back a little further. From a big picture perspective the charts above continue to suggest that longer-term falling resistance lines/channels remain in [...]
Posted the chart below on 5/23, reflecting that the Dow was facing key resistance and channel lines, dating back almost 70-years. At that time the Dow stood at 12,500 (see post here) CLICK ON CHART TO ENLARGE The above chart reflected important resistance was at hand. Despite the 6% plus rally over the past few [...]
Is the market due a bounce after yesterdays 500 point decline? Odds are very high on a short-term basis, a bounce is due…. just check out the VIX. During these times I am of the belief it is can be helpful to look at long-term charts for a little perspective. I am of the opinion [...]
CLICK ON CHART TO ENLARGE Currently the Dow is facing 70-year channel resistance…This resistance does not mean this market has to turn tail and head south at this time!. Several “Multi-decade” lines all meeting at (2) should very much be respected! These type of situations often take place a key turning points! Should support line (3) [...]
CLICK ON CHART TO ENLARGE Several LONG-TERM resistance lines are facing the Dow right now at (1) in the above chart. The long-term resistance in the Dow should be respected!!!
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