The 75-Year Trendline Holding Stocks Back (For Now)

Tyler Durden's picture

Over 75 years ago a trendline was born. From the highs in 1937, the Dow Industrials have logarithmically oscillated around an inexorable drift. The current rally, as all asunder await the 14,000 level amid every boat being lifted non-stop, is testing this trendline for the fourth time in the last three years - and each time prior we have fallen back (unable to break above)... Yesterday saw us get close and this remains the longest trend to watch for more sustained strength.

75 years...

 

and Close-Up...

 

Source: Brad Wishak at NewEdge