The DOW is continuing to rise as I had indicated it would from last week’s blog.  We are in an ascending broadening channel and the Index is currently printing a Hanging Man on decreasing volume that bodes for a possible short term slowing in the bounce.  We may go sideways for a session or two before resuming the move higher in the channel.  We need to break the swing high from 10/21 at 10119 to post a new high the recent trend.

The SPX is also moving higher an ascending broadening channel and also with a Spinning Top/ Hanging Man type pattern on decreasing volume that may indicate a temporary slowing of the recent bounce.  I feel that we will continue higher.  The index needs to break through the swing high from 10/21 at 1101 in order to post a higher high in the current trend.

The COMPQ is moving higher in the ascending channel and looks very bullish.  The index needs to break the recent swing high on 10/21 of 2190 in order to post a new high in the recent trend.  Click here and learn to read charts to profit.

Bookmark It

Hide Sites