August 28th high 1433. Sept 30 high 13.53.80. Yesterday’s high 1330.80.
Sell this T-line and hold on. Today we are 20 lower from that T-line.
As for the Dow indexes, There was no bounce at the 1/2 way point. See below.
Honestly, with the mess in Washington, with the lack of counter-trend trades, the lack of two sided volatility, I’d step aside, except for the extremes of the ranges on the chart. If this chart level (14,700) doesn’t hold, we could easily drop down to 14,400 which was the June 24 low at 14,410.
On the bullish side, the Fed nominee is all about easy money. That should be supportive. However, if we default, then all bets are off.
See the weekly chart below of DJZ
what is really impressive? Last Christmas ; December 2012 we traded at 12,568.
Not a word as we rallied 3000 pts this year !!!!! We could break all the way down to 13,751 and still be in a bull trend. Imagine that. another 2100 points of down side?? Buy some cheap puts if you are worried.
CER