http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=1&mn=0&dy=0&id=p03149889863&a=204730441 Notice how the truism of trendlines is demonstrated here. A broken up trendline warns of an impending trend change. At this moment price is in a very interesting and…
Two crucial events here. The short term trading trendline is broken on a vicious power bar, and price is nose up against the resistance represented by the horizontal line. And…
http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=1&mn=0&dy=0&id=p40849239716&a=209481263 Notice how beautifully the top of this range is defined by the top horizontal line. The bottom is also well defined, but not so beautiful. Also the tenuous nature…
http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=2&mn=0&dy=0&id=p29426735132&a=205639989 In general we evaluate the market through the lense of the Dow. And in general this is effective. Occasionally there is a divergence between the three major indices (Dow,…
This wek was largely a continuation --now 15 days of uptrend without a pullback to give us a point on whiih to anchor a trendline. If you want a temporary…
