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PeakTrader.com Economics, Portfolio Optimization, and Technical Analysis
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arthur Guest
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Posted: Sat Sep 25, 2004 6:05 am Post subject: Dow Jones |
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The first chart is a monthly chart that shows the Dow Jones may continue to hold its 80 month MA, currently at 9,775. If the 80 month MA is broken, then I suspect the cyclical bull market that started in 2003 will be over. However, the 80 month MA may hold for several more months.
The second chart is a daily chart. Some are predicting the Dow will continue to trade in the downward channel. However, the Dow may instead be creating a bullish inverse head & shouders pattern. The right shoulder may be created in Oct (perhaps around 9,850, i.e. above its 80 month MA). The upper downtrend line and 200 day MA may be resistance.
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