dow
based on 30 year data chart
Yearly
Take a look at the downstream moo river on rsi, it is slithering down along the lowerbank, which indicates a lot of indecision this year. I am not sure about this slithering down, whether it is a continuation behaviour or a reversal behaviour, for me, probably I am more inclined to the former than the latter, as bouncing off should be sharpish.
Quarterly
Momentum indicators are trying to bend up and price should meet heavy resistance near 8800ish for the quarterly range.
Monthly
We are bouncing up in the third continuous month, another green monthly candle could bring serious doubt to bears.
RSI is bending up, and has not yet met key resistance line, other indicators are supportive.
No green para sar dot yet!
Weekly
We have noted that weeklies are bull camps with everything signalling bullishness so far for the sixth weeks, on green para sar dots.
Still, RSI is hitting upperbank one, a break of which will be significant, price has yet to touch the key resistance near 8800/8900. Other momentum indicators have broken through downstream moo rivers and gone sharply bullish. Overall, this bull run seems to be gathering the final momentum for a spike that will surprise many.
Price seems to be held up by ma20 near 7940.
Daily
We almost caved in on Friday, but somehow the bull run was rescued and it is now bouncing off ma20 of 8000ish, above here, we go for 8700 first this week, before meeting significant bear onslaughter.
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This is a week that I see a lot of volatility, a final spike into 8700, beofore plunging back down under 8000 is what I see on dow. Be careful out there, and good luck.
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