Parabolic markets, flags flying…

Posted on Jun 09, 2014 by in Confidential Letters

 

http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=7&dy=0&id=p59103334454&a=298224028

After five months of sideways markets prices broke out and are now accelerating.  It appears that the present markets are being characterized by many flags.  Here in the Dow F marks what might be a flag.  The interpretation is reinforced by patterns in the other indices:

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p90011170908&a=266691158

 

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