Multiyear resistance TL's right above price $DJIA
We officially elected the key Socrates monthly bullish level at 18625 for November. Now watching for a pullback to this level to jump in and add to my mini position. Major resistance bank awaits at 20764-21252
I posted this chart before, this is an updated version, focusing on expansion cycles. From the chart we can see it had two long term expansions (by expansion I mean chart keeps making higher highs), one being from 1932 to 1965 lasted 33 years; one being from 1974 to 1999 lasted 25 years. We may have another one under way (starting from 2009 low). DJIA has already...
One of the critical things to look for as a trader is DISTRIBUTION from the funds. We look at this on the indexes. Any index showing signs of distribution is a clue that potential turn is coming. One day a trend does not make, but if we see a series of lows and higher volume on those lows it is critical to get to the sidelines...or tighten stops. I look for 4...