Dow Monthly Shooting Star?

[inandlong]

Comments?

 

[TKOtrader]

ya know ya big ballin' when you look at a monthly chart !

 

[inandlong]

naaah... just too slow to daytrade, too dumb to think it through in a few seconds, and too lazy to work harder.

 

[range]

The indices' chart for June is beginning to look like a head and shoulders pattern to me.

 

[bobcathy1]

Inandlong,
I looked at the Dow and yup it looks like a shooting star. Good rule of thumb is that the tail be at least 2 times as long as the body. On YM it looks like an evening star, but there is very little data to support in on a monthly chart since YM is so new.
Hmmmm....I am pretty slow on the uptake and I daytrade ok. Maybe you just have better things to do than stare at a computer all day?
Cathy

 

[inandlong]

No I stare at the charts all day too. And lately try to keep the peace on the mrmarket threads.

 

[GreenDog]

use a yearly chart!

Yeah, looks like she started forming a rising wedge back in '46 -- I'm expecting another breakout in 2041 (but then I want to see it pull back to the pivot-point again to rule out any "bogus signals!").

 

[inandlong]

Quote from GreenDog:

use a yearly chart!

Yeah, looks like she started forming a rising wedge back in '46 -- I'm expecting another breakout in 2041 (but then I want to see it pull back to the pivot-point again to rule out any "bogus signals!").

LOL! Sometimes I think I might as well be in real estate!

I know for many, many of the members the monthly chart is meaningless. But the big money that actually makes the market trend looks at it. And all I want to do is ride the wave.

 

[PetaDollar]

Quote from inandlong:

Comments?

There is no hammer. Nearly a shooting star...

.. similiar candle to the last two tops ...

 

[inandlong]

Right you are peter'. Watch this! One of the nice things about being a moderator is about to occur. But I'll leave my original in your quote so as not to completely cover my error.

Thanks for the chart and the correction.