Wednesday, 11 February 2015

NASDAQ 100 testing trend channel resistance, S&P 500 and Dow lagging, Decennial pattern says rally due

Daily chart for the NASDAQ 100 shows it testing trend channel resistance. All charts include after hours trade.

Daily chart of the S&P 500 next.

Dow daily next.

The Decennial pattern on the Dow indicates that a rally is due.

If the Decennial pattern does kick in, will the S&P beat the upper trend line shown below in the monthly chart? Unless/until it does, I'll continue to be wary of the potential for a big top.