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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.Â
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And the longer channel…WOW, 200 years of data!
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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.netÂ
Investing Quote…
..”Don’t trust your own opinion and back your judgment until the action of the market itself confirms your opinion”..
Jesse Livermore Trading Rule
..The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell”..
John Templeton
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