The Dow is attempting to breakout from this megaphone
pattern as momentum is creating lower highs at (1), is attempting
to break resistance dating all the way back to 1987 at (2), with
valuations a little bit above their 114-year averages at (3), just
66% above.
Even though no long lasting bull market in 200 years has
started from these current valuations...should we just set back and
enjoy a breakout to higher prices? The Power of the Pattern would
suggest risk management is very important at this price
point!
Posted by Breakdown on 17th of Mar 2014 at 12:30 pm
I have to agree with Matt and expect a pullback the first week
of April, or by the 11th at the latest. I would venture to
wager that the mechanical systems will be short also.
Dow Breakout Chart dating back to 1987
Posted by sbaxman111 on 17th of Mar 2014 at 11:56 am
Dow attempting to breakout from resistance dating back to 1987!
The Dow is attempting to breakout from this megaphone pattern as momentum is creating lower highs at (1), is attempting to break resistance dating all the way back to 1987 at (2), with valuations a little bit above their 114-year averages at (3), just 66% above.
Even though no long lasting bull market in 200 years has started from these current valuations...should we just set back and enjoy a breakout to higher prices? The Power of the Pattern would suggest risk management is very important at this price point!
I have to agree with
Posted by Breakdown on 17th of Mar 2014 at 12:30 pm
I have to agree with Matt and expect a pullback the first week of April, or by the 11th at the latest. I would venture to wager that the mechanical systems will be short also.
Chris Kimble chart?
Posted by smoothy on 17th of Mar 2014 at 12:25 pm
Chris Kimble chart?