ZeroHedge Search

Triple test of resistance is in play along with a crowded trade for crude.

Is King Dollar in trouble against the Japanese Yen?

Look-alike patterns in  Apple, Google and the S&P looked to be in play

the 10-year note (TNX) yield is testing it's 25-years channel....

Back in December, our research showed that the Dow Jones Industrial Average was fast approaching “major” dual resistance at the top of a 70 year resistance channel and it’s 261% Fibonacci extension level....

The table below looks at performance of the S&P 500 sectors over the past 90-days

Dow testing the top of multi-decade rising support channel

The chart below looks at the Dow Jones Industrial average over the past 100-years....momentum still very lofty even after this decline

The rally in banks over the past 7-years inside of rising channel has it back at the height of the right shoulder of the topping pattern

The rallies over the past few years now has each testing highs reached two other times over the past 10-years

Below looks at a chart of the Nikkei Index from Japan and the Shanghai Index from China.  

While momentum was reaching momentum levels seldom seen in 100-years, the Dow was testing the top of 70-year rising channel at (2). See update to last weeks chart below. 

Last week the Power of the Pattern shared that most “FAANG stocks were testing the top of rising channels/breakout levels.”

And as you might expect, the large-cap tech stock index, the Nasdaq 100, is doing the same thing.

Below looks at a chart on the Dow since the early 1900’s on a monthly basis, with momentum applied in the upper part of the chart.