Tag Archives: indu

Who you gonna believe? the press or your lying eyes…?

Posted on Aug 03, 2017 by .

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http://stockcharts.com/h-sc/ui?s=%24INDU&p=D&yr=1&mn=6&dy=0&id=p81758643050&a=424811737

Here we have the classical case of 22000 talking heads trying to call the top, but if you look at the chart it screams bull market.  And not only that , but a new milestone: 22000.  Merrill Lynch is bullish on America.  So are we.

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464

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Dow 20000. Major milestone on steroids…

Posted on Jan 25, 2017 by .

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0125spxpnf

http://stockcharts.com/freecharts/pnf.php?c=%24INDU,PWTADANRBO[PA][D][F1!3!!!2!20]

We wrote a letter a few days ago — don’t wory you didn’t see it becuse we didn’t send it.  The title may tell you why:  “If there’s nothing to say, don’t say it.”  In short market action was so boring that there was nothing to say, so after admitting this we just shelved the letter.  Which is replaced by some big news — the Dow cracked 20000 — and not only that, it did it in the shortest time period in history.  There may be something to worry about there — but more of that later.  Here is the chart of that:

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Probing new territory…

Posted on Jul 23, 2016 by .

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0722indupnf

http://stockcharts.com/freecharts/pnf.php?c=%24INDU,PWTADANRBO[PA][D][F1!3!!!2!20]

This is such a beautiful chart, with such long term meaning that we have to show it.  20349 targeted in the Indu.  What gives this credence is the months and moths of tedium as the market backed and filled and fizzled and failed.  The market doesn’t just do that  to test investor faith.  It does it to build a platform for the next advance.  Being coy the market always tries to leave room for doubt so that only the true of heart are able to reap the rewards of faith virtue and loyalty.  (Sorry.  Got carried away there.)

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Breaking away…

Posted on Jul 18, 2016 by .

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0715indu

 

http://stockcharts.com/h-sc/ui?s=%24INDU&p=D&yr=1&mn=0&dy=0&id=p90213512304

Not much debateable here.   All the indices are breaking to new highs.

0715spx

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p46911828355

The spx, similarly, breaking away.

0715qqq

 

http://stockcharts.com/h-sc/ui?s=QQQ&p=D&yr=1&mn=0&dy=0&id=p58769923697

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p46911828355

And the qs.  Everywhere you look there are buying signals.  We are in.

What does it mean?  Well one thing it means is illuminated by the PnF chart:

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Buying signals…

Posted on Apr 20, 2016 by .

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While we were wrapped hand and foot negotiating a really bad transaction with the Internal Revenue Service prices snuck out to the upside, making new highs.  New Highs are always inflexion points and represent a battle zone for contrarians and investors.  We bought more.

0420spx

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464

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