Dow - Big Picture

Masterful

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Didn't see any threads for longer term views on the Dow and wanted to post an interesting 70 week cycle date that fell on Friday.

All views welcomed

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When browsing DOW chart noticed excellent response to a 70-74 week cycle over the last 50+ years on the DOW.

Generally the cycle marks intermediate highs and lows however sometimes can just indicate congestion periods.

NB
74 week cycle also rounds to an 18 month fibonacci cycle (74/4=18).

Have attached a chart.

{Note fib levels which may provide turning points and have done so, the text blocks these out in the attachment.}
:cheesy:
 

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Tom Hougard mentioned something very similar to this a couple of weekends ago on Bloomberg. He expressed it as "every 500 days" that the Dow has a major turning point. Looking back, he wasn't far off, assuming that the Dow heads south from here and doesn't try and break the 10,750 level. Only time will tell!
 
With the futures plumbing the 10090 level just now and news from the middle east overriding economics; the lower uptrend line could face a stern test today, but RSI PD hints at support imho……..
 

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