In our September update, I noted that DJIA had dropped back below several potentially bearish lines in the sand in late August:
– the huge red channel
– the white 1.272 extension
– the megaphone upper bound
With BoJ and FOMC meetings coming up, I wondered:
Friday’s action, for instance, showed the index closing above the 1.272 and a potential falling channel midline. Would it really surprise anyone if TPTB were able to push the Dow back above the megaphone/channel top, too?
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