• 854 days Will The ECB Continue To Hike Rates?
  • 854 days Forbes: Aramco Remains Largest Company In The Middle East
  • 856 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,255 days Could Crypto Overtake Traditional Investment?
  • 1,260 days Americans Still Quitting Jobs At Record Pace
  • 1,262 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,265 days Is The Dollar Too Strong?
  • 1,265 days Big Tech Disappoints Investors on Earnings Calls
  • 1,266 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,268 days China Is Quietly Trying To Distance Itself From Russia
  • 1,268 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,272 days Crypto Investors Won Big In 2021
  • 1,273 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,273 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,276 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,276 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,279 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,280 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,280 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,282 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

It's Close... Very Close

The biggest rallies occur in bear markets and equities have had an impressive run after leaving behind a double-bottom in January and February - but the "end is near". In election years, March is a seasonally strong month for equities but this year, the March rally got started early in the first half of February. Several signs point to a top either last Friday or sometime this week.

On Friday, the Dow closed at the 61.8% retracement of the November-January decline. In addition, this level makes the February rally equal to 150% of the January rally. Either level would be reason enough to expect a top but the two together make for meaningful resistance.

A 6 month cycle high is due this week and a micro-cycle high is expected near Thursday. Even the Bradley Model is calling for a turn near this Friday.

Dow Jones Industrial Average Chart
Larger Image

 


Click here to get a "Sneak-Peek" (trial subscription) at Seattle Technical Advisors.com

 

Back to homepage

Leave a comment

Leave a comment