Earlier, I took a look at “Dow Jones Similarities Between Dow Jones 1937/1938 and Today” and then followed up with “The Resolution of the 1937 Bear Market,” both of which were high-traffic posts. Let’s take a special look now at the Elliott Wave structure as more price bars have developed since that report and the…
A couple of readers have also asked me to post the Fibonacci Confluence Levels (grids) for the NASDAQ and the Dow Jones Index currently. Here is a quick, mid-day update on these levels (which, to me, are not as clear as the confluence on the S&P 500). NASDAQ Daily Fibonacci Confluence: The grid logic is…
With the media discussing the six stocks that fell beneath $10 in the Dow Jones Average, let’s also compare that to the number and percentage of stocks that have fallen beneath $10 per share in the S&P 500 – you can also use this chart as a quick reference. Stocks Under $10 on the S&P…
A reader asked me to revisit the 1929 Stock Market Crash through charts and the following chart of the Dow Jones reflects the period from 1922 to 1932 to show you the initial 1922 low and the final 1932 low and what happened in-between as seen on a weekly timeframe. (Click for Larger Image) The…
In charting, sometimes past is prologue. There is a distinctly eerie similarity in the 5-Wave decline from the October 2007 highs today with what happened – almost identically – as the Dow peaked in early 1937 and bottomed out in April 1938. It’s something you probably should examine, as it could resolve the same way…
In another ominous sign to investors, the market gave an old-fashioned renewed “Dow Theory Sell Signal” Today. What does that mean going forward? Let’s take a look at the Dow Jones Industrial and Dow Jones Transportation Index for additional insights. A modern Dow Theory Sell Signal is given when BOTH the Dow Industrials and Transports…
We’ve heard dozens of times how “The Trend is Your Friend” but let’s take a moment to look at the chart in as simple terms as possible and reflect on why that one statment is so important to trading success. Adam Hewison released an educational video entitled “The Trend is Your Friend – Dow Jones”…
Last month was the worst June since the Depression – the Dow fell 10% in one month alone. Let’s look at the structure of the monthly index charts to see what their story tells us about the possible future. Dow Jones: The key feature of this chart is that price has closed beneath the rising…
This looks bad for the bulls. The Dow Jones Index broke its 2008 closing low today, and has broken its 2008 lows made in January. The overall trend is down, and momentum appears to be accelerating. The roughly 14% rally off the March lows has now been confirmed as a “Bear Market Rally,” in which…
The Dow Jones Industrial Average tested the March closing low today, with a large, sudden plunge to the test and a solid recovery (so far) off this level. The market is at a very critical juncture now. The ‘zoomed in’ daily chart: Price gapped lower this morning and then careened to test the March 2008…