This is an after the fact analysis. In hindsight things look clearer and they provide an understanding that is very useful in analyzing emerging patterns in the future. Dow made a four year high of 13,289 on March 16, 2012 – Point X in the chart below. Then it retraced to 13,002 (Point A) by…
Here is what I am reading. Morning MarketBeat: Laundry List of Worries (WSJ Blogs) DOW and RUSSELL 2000 Test April lows — European Top 100 index breaks wedge trend line (StockCharts) How a Radical Greek Rescue Plan Fell Short (The Wall Street Journal) India Needs Course Correction to Lure Foreign Investment (Bloomberg) Foreign tourist arrival in India…
On May 9th Dow extended its losing streak to six days. History says that the probability of a bounce now is quite high – 79%. Since 1970, Dow has seen a losing streak of six days 58 times (excluding current streak). Of these, 43 times the streak went beyond six days. However, when Dow was above its 200-Day SMA its losing…
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