The Dow Held the Reversal 17120

DJIND-D 6-28-2016

A number of emails are coming in about how, even in a panic, the Reversal system held. The Dow crashed only within a two-day reaction. It elected the first minor Daily Bearish at 17434 on Friday. We saw the Dow fall to 17063 intraday and close at 17140.24 while holding the 17120 level. We warned on June 25, “With the closing on Friday below the first Minor Weekly Bearish at 17434, the Dow should move a bit lower now to test the 17120 level. “

Holding the 17120 level for the close yesterday implied a failure and thus a bounce. We now require a daily closing back above 15752 to imply that the low will hold for now and another retest of resistance should follow.

Latest Posts

Squad Members Call for Netanyahu’s Arrest

The progressive “squad” members have been fueling the flames of unrest over the Israel-Palestine conflict, naturally supporting Palestine. Squad member Rep. Tlaib (D-Mich) called for the arrest of Israeli Prime [...]
Read more

Rule of Nine, Armageddon & Megiddo

QUESTION: Mr. Armstrong, I do not recall which WEC event it was back in the nineties, but you projected Israel’s fate and the Rule of Nine, which showed this was [...]
Read more

Market Talk – May 9, 2024

ASIA:   The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 128.39 points or -0.34% to 38,073.98 Shanghai increased 25.84 points or 0.83% to 3,154.32 Hang [...]
Read more