Dow Long term Chart

madasafish

Well-known member
470 5
looking at the short term

note how volumes are dropping off.
We are in a classic rising triangle with a top at 10600 and CCI (purple) has turned down through RSI(green)
And we are having narrow trading range days .. 3 Ns in a row at the bottom of the chart.

CCI has not broken below 70 and RSI is still rising so failure has not occurred.

My guess is up: if we were to fall we would have not had 3 NR7 days in a row: this is a wind up to a big move.. in the existing direction I think.
Note how the short term (9 day) regression analysis (red and blue lines) is pointing up paralllel to the regression channels (red and blue lines). That looks like confirmation..

But what do I know? :)
 

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