Dow Monthly Chart Looks Like A Top

Discussion in 'Index Futures' started by myminitrading, Jul 31, 2007.

  1. Not looking so good for the bulls
     
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  2. LOL. Its only straight up for the most part.
     
  3. notouch

    notouch

    Such is the nature of a top. But last month's candle was very bearish by all accounts - a sharp rejection of the high. How much you read into monthly candles is another matter.
     
  4. The last 3000 points was a parabolic move, were we go from here, who knows.
     
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  5. Weekly and monthly carry alot more weight than daily. The July candle is most bearish.
     
  6. Not debating the nature of the last candle but any long term bull would have to be very happy with that chart.
     
  7. notouch

    notouch

    That's what I meant - the July candle with it's long wick and low close is very bearish. I think a long term bull would be waiting to buy at lower levels.
     
  8. It's a TOTAL WASTE OF TIME to even present a chart, let alone anything having to do with Technical Analysis on ET. Most ETer's wouldn't know of a huge outside reversal bar on a monthly chart ( or what it means ) if it was staring straight in front of them.
     
  9. j1900q

    j1900q

    Agree, it seems most have no idea of what to do or when to do it. I mean counting, to say 3, or maybe 5, what a waste.
    trade well Keith
     

  10. You people and your silly candles!! :D

    We will have to take out 12600 before even considering a change in trend.

    st
     
    #10     Jul 31, 2007