Index Charts: A Uniform Story With Two Standout Exceptions

By Tim Knight of Slope Of Hope

Managing Partner at Tim Knight Organization • Mar 25, 2024 at 10:20 PM EDT

Index charts confirm: steady ascending channels without breaches for about six months, signaling the government's intent to prevent equity declines until post-election.

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Image Source: Unsplash

The index charts almost all say the same thing: (1) prices are in an ascending channel; (2) there hasn’t been a single violation of the channel since it began about half a year ago; (3) the government isn’t going to allow any kind of dip in equities until the election is over.

There are just two notable exceptions, shown below: the Russell 2000, which has fractured its uptrend, and the Dow 15 Utilities, whose diamond pattern has been gloriously in place since completing last summer.

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