In our last update on NKD [see: Nov 30 Update], I somewhat snarkily disparaged the index’s legitimacy. The Nikkei 225 is less a securities index than it is a measure of how much intervention the Bank of Japan feels like throwing its way. It’s what the Dow aspires to be when it grows up. At … continue reading →
Tag Archives: dow
In our last dedicated post six months ago, we discussed the critical resistance DJIA faced: the neckline of a large H&S Pattern. …it’s important to note that like SPX and COMP, [DJIA] is backtesting a point of potentially strong resistance — the neckline of a large Head & Shoulder Pattern that never completely paid off. … continue reading →
In our last update on the Dow, we noted that it had not only fallen through an important trend line but its SMA200 as well. From All Good Things on Oct 11: DJIA is flirting with breaking below a long-term trend line and SMA200. A failure here opens the door to 23781, another 6.2% lower. … continue reading →
Since breaking above the 2007 high, the Dow’s been on a tear — eager to leave 2007-2009 in the past. In so doing, it sliced right through the white 1.618 extension of the 2011 correction and the 1.618 and 2.24 extensions of the drops from Apr 2012 and Sept 2012. What’s next? continued for members… … continue reading →