The upper graph shows the Dow Jones since its peak of 14.198 points, which dates back to the week of October 8, 2007. Bear a trident was set from the top - red fork. At the exit of the trident bullish bearish during the week of July 13, 2009, this represented a potential reversal of the downward trend in court, which was subsequently validated by the output bullish structure type E-T-S (left shoulder - head - right shoulder).
Fork green represents the current uptrend in the Dow Jones, as long as the curve points of the index remains within the bull channel, the short term bullish momentum is always valid.
The lower graph shows the venerable Mr. Jones on a time frame much wider. The root of the trident is based on the trough in 2002 and the top of the fork is located on the historic area of 14.198 points for the week of October 8, 2008, while the third anchor rests on the palm of March 2009. In conclusion, this trident has been forged by three anchor points that are either highly significant peak or trough very important for the Dow Jones, then the creation of this trident rests on an absence of random parameter.
For the latest analysis of the Dow Jones, HERE
For more information on the fork Allan Andrews HERE
The lower graph shows the venerable Mr. Jones on a time frame much wider. The root of the trident is based on the trough in 2002 and the top of the fork is located on the historic area of 14.198 points for the week of October 8, 2008, while the third anchor rests on the palm of March 2009. In conclusion, this trident has been forged by three anchor points that are either highly significant peak or trough very important for the Dow Jones, then the creation of this trident rests on an absence of random parameter.
For the latest analysis of the Dow Jones, HERE
For more information on the fork Allan Andrews HERE
Claude Bordeleau
The observer technical analysis of stock markets
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