This is not a recommendation to buy or sell any of the stocks discussed on this blog. Due diligence is your responsibility. If you need professional investment advice then find a professional.
This is just a quick post of a couple of Dow charts. Perhaps it forbodes to a down future, perhaps not. That is for the market alone to decide. Yes the Dow is old and often discarded but it still holds an iconic status that is hard to ignore. Call me old school if you like. Anyways on with the charts that make me think that the whole thing is about to fall apart to the downside.
Sorry if they are kind of messy, I have not done this for awhile. And with the long term daily chart it is okay to wonder where the price is. The big black arrow is way back in June 2008 and then nothing good happened until the red line went back to positive in March 2009. With this same indicator now dropping back to being negative I have to wonder if anything good is in the offing for the next few months.
The next chart is a shorter view of the above. As long as the ribbon indicator at the bottom of the chart stays brown I am not very positive about any upmoves.
The final chart is the weekly Dow. Perhaps there is hope for an upmove since the signal here is still on the positive side. However, a couple of brown spots have shown up on the bottom ribbon which at least suggest caution. If the indicator drops onto the negative side then it may not be a rosy next few months.
As always no one can predict the future and only time will reveal the outcome. See what happens and enjoy the show.
Thank you for your time.
