Dow

I am going to have to use links to post the charts which is less than satisfactory. Whilst nursing my wounds on the Dow, I have been trying to remove as much noise off the chart but leave all the information, if that makes sense. In this update on the Dow, the sub chart shows the underlying trends based on various time frames as denoted in the legend box. The trend I trade is the 25 day cycle, being just over a month in duration; a realistic temperature check I think. Without worrying about EW counts or longer term cycles, it is immediately clear, that despite this run up, the 25day trend is red for bearish and is rolling under the 50day trend line too - so we have a 25day and 50day bearish stack. As such, until we have more information, this run up has to be counted as a retracement into that stack, given the overlapping nature of the move, although accepted it has been persistent and could have been a leading diagonal or series of 1-2's uphill. The reaction is going to be the only way to confirm and with the 25/50day stack bearish for now, I still assume matters will prove themselves to the downside. If an overbought momentum cluster is held by the underside of the range channel, we have a sell again. Hope this work keeps me out of trouble going forward! PS: You need to zoom in a bit, if the chart is patchy!