So I’m talking with a friend about the rate cut and the market and he emails me the following:
I have been talking with my financial adviser. Part of his research is that he likes following charts as well.
Some advisors don’t believe in them, but… they do point to trends and human / market behavior. They are like the history books of the market and can possibly show upcoming trends…
So I noticed that this is the 3rd time that the market has reached close to 14000 and then suddenly drop back into
the 12’s for the DOW. I mentioned this too him and he mentioned that
there is a trend name for what is happening.
Historically on the “triple down” it will drop below the previous “two
downs”. If the market holds and “bounces”
back after this triple down then we have a “strong foundation”.
11800-11900 is the range everyone is hoping will hold.
This triple down in a way “tests” the strength of the market.
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Is there really a name for this little hypothesis? Or can we make up our own…
Looking at a 1 year chart of the DOW, particularly July 07-Jan 08, looks like a classic head and shoulders pattern to me. We broke the neckline at the beginning of the year.
Looking at a 1 year chart of the DOW, particularly July 07-Jan 08, looks like a classic head and shoulders pattern to me. We broke the neckline at the beginning of the year.
Looking at a 1 year chart of the DOW, particularly July 07-Jan 08, looks like a classic head and shoulders pattern to me. We broke the neckline at the beginning of the year.
Looking at a 1 year chart of the DOW, particularly July 07-Jan 08, looks like a classic head and shoulders pattern to me. We broke the neckline at the beginning of the year.
Looking at a 1 year chart of the DOW, particularly July 07-Jan 08, looks like a classic head and shoulders pattern to me. We broke the neckline at the beginning of the year.
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