"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 2 hours Gold Selloff Continues As Dollar Climbs Higher
  • 3 hours Gold Investors In A Frenzy Over Sunken Russian Warship
  • 4 hours The New King Of Electric Cars
  • 5 hours BlackRock Goes Bitcoin
  • 6 hours U.S. Banks See Best Earnings Report In Years
  • 8 hours The Case For Gold Is Not About Price
  • 10 hours Stock Market Sentiment Turns Bullish
  • 1 day What Is Bitcoin Really Supposed To Be?
  • 1 day The Surprising Media Giant Taking On Netflix
  • 1 day Cybersecurity Stocks Are Red-Hot As Election Looms
  • 1 day Americans Grow Weary Of U.S. Trade Policy
  • 1 day What Putin Really Wants From Trump
  • 1 day Europe’s EV Sales Growth Is Slowing
  • 1 day The Looming "Hyper-War"
  • 2 days The Real Winners Of The Real Estate Business
  • 2 days 3 Reasons Small-Cap Stocks Are Booming
  • 2 days Chinese IPO Fervor Slows As Xiaomi Disappoints
  • 2 days How Corporate America Is Filling The Gaps In Public Education
  • 2 days Bezos’ Space Flight Gamble
  • 2 days Is This The Answer To High Gasoline Prices?
The Case For Gold Is Not About Price

The Case For Gold Is Not About Price

Gold has seen huge gains…

Netflix Shock Hits FAANG Stocks Hard

Netflix Shock Hits FAANG Stocks Hard

Netflix released its surprising second…

The Biggest Winners Of Q2 Earnings Season

The Biggest Winners Of Q2 Earnings Season

The second quarter of 2018…

Marty Chenard

Marty Chenard

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…

Contact Author

Charts and Commentary

In spite of the market moving down, the Indexes are still holding some important support levels as we will see today.

First, the DOW. Note its price chart. Yesterday, the DOW exactly hit a Major Support Level and then bounced up at the end of the day. *** This leaves open the possibility for the DOW to move up to its previous all time high.

The Transportation Index is below, and its pullback in the last few days didn't even take it to its support line. Technically, the Transportation Index is still in its up trend.

In our last chart, we'll look at the Russell 2000 index.

In the past few days, it broke its Rising Wedge to the downside which is negative.

However, yesterday, the Russell dropped down to a support level as seen on the chart.

This becomes an important level for it not to break to the downside and an opportunity for a bounce up from here.

 

Back to homepage

Leave a comment

Leave a comment