Index Charts: A Uniform Story With Two Standout Exceptions
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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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I tilt to the bearish side. Slope of Hope is not, and has never been, a provider of investment advice. So I take absolutely no responsibility for the losses – – or any credit ...
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