The long term DJI picture is really worth updating today. Below are two DJI
charts going back to 1927 ... one is a simple yearly tick chart and the other
is a semi-log tick chart.
When looking at both charts, note that the current level is at the top of
an expanding wedge pattern which cyclically should be moving down to the
bottom support line. This is the predicament the Federal Reserve is in now.
They want to keep pumping in money until the economy can function on its own
without QE money, but they are running out of time due to where the
DJI is in its cycle.
This chart shows the DJI plotted in a semi-log format.
Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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