Sunday, 19 October 2014

S&P 500 constrained by two trend channels since early September

4 hour chart of the S&P futures shows that the market has been constrained by two trend channels since early September. Friday's high tested trend lines from both channels. Keeping it simple today. My big picture view and Elliott Wave counts for various timeframes are available back in time.



Dow Jones Industrial Average Decennial Pattern indicates that stocks should rally from here

The following chart shows the paths that the Dow Jones Industrial Average would take this decade if it were to follow the trajectory taken in the average decade; or the average secular bull market decade; or the average secular bear market decade. The chart is based on one that I found at www.pring.com, tweaked by me to show the years of this decade and to highlight where we are now.