DOW close under 10170 and you will see all HEL% break loose.
Again expanding wedge, 240 day turn down, triple test of above level - thus the reason we will not break (yet) - but we will!
The weekly chart on the DOW is major technical bearish and reason why no rally to come folks. Here is why. First, 50 day turning away from 200 day - down, Second, GANN test of above level about to break 10170, Third, channel started off the 01/00 high (all time high in DOW has held since then) and right now sits at 10,900 tops - the channel has failed in topping 3 times, succeded 1 since it started, Fourth, stoch for this same channel is most overbought and at point were everytime we had a failure when this happened.
What you bulls do not understand IMO, this is a downsloping channel, right now that channel is 10900/9250. The smart money sees this.
Now, let me here you BULLS give me a technical reason why the DOW should rally. Tired of so much HOT AIR around here! |
