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readtheticker

readtheticker

readtheticker

We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online…

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Upper Channel Warning

Upper Channel Warning

The Dow Jones is at the upper channel, price may break through as a tease, or as we suspect just roll over.

readtheticker.com site is issuing a market CAUTION.

No matter what the INDU price does, those chasing percentage gains now at these market highs are picking up dimes in front of a bulldozer. A pull back of 10% of more would make readtheticker.com more bullish, as markets have better health when price pulls back and recovers on strong volume. So far a 5% pullback scares the market (and QE the FED) crazy.

The upper channel charts for the INDU.

DOW Weekly Chart
Larger Image

And the longer channel...WOW, 200 years of data!

DOW Weekly Chart 2
Larger Image

NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

"[Point and] figure charts are more valuable than vertical [bar] charts." ~ Richard D Wyckoff

"Money can't buy you happiness but it does bring you a more pleasant form of misery." ~ Spike Milligan

 

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