The Dow Jones Industrial Average (INDU) recently squared out with a 50% price retrace at 100% time. Normally, this is weakly bullish. But because the “market” low was in March and not with the INDU low, price is actually well above the 1:1 ascending Gann line for the “market”. I continue to chart the DOW from the January low to monitor any differences in this timeframe with indices which hit the low in March - such as the SP500 Index (SPX).
Chart courtesy of Stockcharts.com
Post Modified: July 3rd, 2008 at 12:28 am
Tags: Dow Jones Industrial Average · Square Out · Standard and Poor's 500 (S&P500)No Comments
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.