Dow: On a long-term basis looking at the monthly charts .. all is bullish, with a couple of caveats. Its nearing the previous high of 14,198 but has yet to take it out. The ADX is not showing a strong trend, as compared to say 06,07,08 since it’s under 30. It hasn’t tagged the upper Bollinger bands since early 2011, a failure to do so is a strong indicator of waning momentum. So we need to see what happens in February.
The weekly charts dow chart, however, has all indicators pointing up. Pushing the upper BB channel, strong Ergonomic, trending ADX but not overbought. Continue reading “Market Indexes at 2/1/13”