Upper Channel Warning

By: readtheticker | Mon, Apr 7, 2014
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Upper Channel Warning

The Dow Jones is at the upper channel, price may break through as a tease, or as we suspect just roll over.

readtheticker.com site is issuing a market CAUTION.

No matter what the INDU price does, those chasing percentage gains now at these market highs are picking up dimes in front of a bulldozer. A pull back of 10% of more would make readtheticker.com more bullish, as markets have better health when price pulls back and recovers on strong volume. So far a 5% pullback scares the market (and QE the FED) crazy.

The upper channel charts for the INDU.

DOW Weekly Chart
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And the longer channel...WOW, 200 years of data!

DOW Weekly Chart 2
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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

"[Point and] figure charts are more valuable than vertical [bar] charts." ~ Richard D Wyckoff

"Money can't buy you happiness but it does bring you a more pleasant form of misery." ~ Spike Milligan




Author: readtheticker


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