The dow has been trading well within a rising wedge. Rising wedges in bull trends can be very good, or very bad. When price breaks up from a rising wedge, it can be very powerful.
DJI gave 3 entries in January. You had to be quick, but you are being generously rewarded.
The first was at the start of the year - easy breakout. The second was a small consolidation, which produced a measured move to 26k. Then, last Friday, price broke out of the rising wedge.
Assuming there are no nasty surprises, this pattern confirms that we are melting up. As exciting as this is, we should be cautious of a key high in the 28000-30000 area, possibly before.
For now, I'm buying all dips.
DJI gave 3 entries in January. You had to be quick, but you are being generously rewarded.
The first was at the start of the year - easy breakout. The second was a small consolidation, which produced a measured move to 26k. Then, last Friday, price broke out of the rising wedge.
Assuming there are no nasty surprises, this pattern confirms that we are melting up. As exciting as this is, we should be cautious of a key high in the 28000-30000 area, possibly before.
For now, I'm buying all dips.