Dow Monthly Chart Looks Like A Top

Quote from Bearbelly:

LOL. Its only straight up for the most part.
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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.
 
Quote from 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.
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Weekly and monthly carry alot more weight than daily. The July candle is most bearish.
 
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.
 
Quote from 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.
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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.
 
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
 
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