Dow

[Baa_Baa]

DOW .. wow! Chart shows an impressive comeback, sliced up through the overhead resistance (now support), over the 200EMA, even a small gap-up day from Thursday to Friday. Smashed the technical breakdown point and the 100% retrace. At this stage the bulls are firmly in control.

Attachment 7682

[Baa_Baa]

Update 2/11: The declining trend line from the May high came into play perfectly, with the DOW halting its stellar rise on Wed, Thurs indecision doji, then Friday retreating to close down 92 at 17,663. DOW futures currently down a further 90 at time of posting.

29/10: DOW continues to impress, risen right up to test the declining trend line from May. What could possibly go wrong when everything appears to be going so right.

[Hoop]

Update 2/11: The declining trend line from the May high came into play perfectly, with the DOW halting its stellar rise on Wed, Thurs indecision doji, then Friday retreating to close down 92 at 17,663. DOW futures currently down a further 90 at time of posting.

29/10: DOW continues to impress, risen right up to test the declining trend line from May. What could possibly go wrong when everything appears to be going so right.

What could go wrong?...Depends on your point of view BaaBaa..The rise to test the declining trend line did just that and it was a victory for TA charting... but...it showed another confirmation that the DOW bull is dead..

I produced a chart below with emphasis on large bull market corrections..TA charting often highlights correctional throwbacks to test breakout points...If...(a big if).. If the DOW is currently in another Bull market Correction then a continued higher highs rises in 2016 will occur but first in early 2016 we could see falling 17500 ish levels occurring due to the DOW's Bull Cycle throwback behaviour..

[Baa_Baa]

Nice long term chart Hoop, looks vulnerable having this year consistently made lower highs and now looking at testing ST supports. This talks about the "on average" stocks testing the 2009 uptrend - http://www.zerohedge.com/news/2015-1...t-2009-uptrend and this view on the Fed raising - http://www.zerohedge.com/news/2015-1...ms-what-comes-

Short term, DOW does look vulnerable though as you say there seems strong support at or around the 'bull/bear' 1700 level. Intriguing that the two Fib retraces drawn line up the 38.2% and 50% at that 1700 support level, and then again the 50% and 61.8% around 16700. Note the larger than usual volume on Friday's sell down. Futures are sideways down a bit at this early stage http://www.investing.com/indices/indices-futures

Attachment 7765

[winner69]

Hoop - what you make of these charts?

DOW at 6.000 seems incredible.

http://www.marketoracle.co.uk/Article53314.html

Merry Xmas and Happy New Year me old mate

[peat]

Hoop - what you make of these charts?

DOW at 6.000 seems incredible.

http://www.marketoracle.co.uk/Article53314.html

We're doomed I tell ya.

[Hoop]

Hoop - what you make of these charts?

DOW at 6.000 seems incredible.

http://www.marketoracle.co.uk/Article53314.html

Merry Xmas and Happy New Year me old mate

I learn't a new word for a chart pattern Bullhorn...I had to Google it...I guess Bullhorn sounds better than broadening top or Megaphone pattern...
Yeah the article is rather bleak......Hmmm charts ..yes ..mind you charts only portray investor behaviour and this Bull Market has been hated by many investors...Most think this Bull exists due to Central Banks spreading their QE pixie dust over the Global sharemarkets and for years these investors have been rather nervous that one day they will wake up to find that the Equity Market doesn't believe in Fairies anymore...
So the charts have been showing this nervousness too with a lot of against the "norm" type stuff these last couple of years..such as sky high PE's yet no noticeable cyclic reversal.
Speaking of which Winner,,,the chart of the day is interesting..eh


DOW at 6000 ...sounds unreal but can't scoff at that prediction, as it is possible looking at the Chart of the Day....The DOW's PE Ratio is around 16.5 (I think) at the moment.. a bit less than the S&P 500... The green line at PE 7 with 2015 earnings would make the DOW be near 7400....

Anyway... Christmas always makes everything rosy....

You have good one Winner...

We will probably chat on the threads before the New Year..

[winner69]

Thanks for your thoughts Hoop

Did you see this ? Just as well NZX has a mind of its own and 2016 will bea Omer.


http://www.businessinsider.com/dow-n...e-1933-2015-12

What was once viewed earlier in the year as a positive year for the Dow is currently negative to date. I am reminded lately by traders and a myriad of articles that typically the year before an election year is the strongest of a 4-year presidential term.On average (based on data going back to 1933), the Dow Jones Industrial Average gains 10.40% during pre-election years. So far, we are facing negative growth during a pre-election year which would mark the first time this has happened since 1939, according to the traders almanac. However, the year is not over until, as they say, the "fat lady sings." It is the general sentiment amongst the trading community that we will rally into the close of the year. We shall see if it is enough to reverse the fortunes of the Dow.

[winner69]

Thanks for your thoughts Hoop

Did you see this ? Just as well NZX has a mind of its own and 2016 will bea Omer.


http://www.businessinsider.com/dow-n...e-1933-2015-12

What was once viewed earlier in the year as a positive year for the Dow is currently negative to date. I am reminded lately by traders and a myriad of articles that typically the year before an election year is the strongest of a 4-year presidential term.On average (based on data going back to 1933), the Dow Jones Industrial Average gains 10.40% during pre-election years. So far, we are facing negative growth during a pre-election year which would mark the first time this has happened since 1939, according to the traders almanac. However, the year is not over until, as they say, the "fat lady sings." It is the general sentiment amongst the trading community that we will rally into the close of the year. We shall see if it is enough to reverse the fortunes of the Dow.

[Hoop]

Thanks for your thoughts Hoop

Did you see this ? Just as well NZX has a mind of its own and 2016 will bea Omer.


http://www.businessinsider.com/dow-n...e-1933-2015-12

What was once viewed earlier in the year as a positive year for the Dow is currently negative to date. I am reminded lately by traders and a myriad of articles that typically the year before an election year is the strongest of a 4-year presidential term.On average (based on data going back to 1933), the Dow Jones Industrial Average gains 10.40% during pre-election years. So far, we are facing negative growth during a pre-election year which would mark the first time this has happened since 1939, according to the traders almanac. However, the year is not over until, as they say, the "fat lady sings." It is the general sentiment amongst the trading community that we will rally into the close of the year. We shall see if it is enough to reverse the fortunes of the Dow.

Did you get the latest chart of the day in your email? Winner