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Tuesday 17 July 2012

Dow Jones Industrial Average, Monthly Chart, July 13, 2012

Dow Jones Industrial Average, Monthly Chart, July 13, 2012


The next pivot point is slated for July 17th, 2012

I'am not going to get into a whole article here and it's not the end of the month but I like to look at the big picture sometimes with monthly charts (it's better to look at a monthly chart at months end). When you look at the charts below, you'll see overhead resistance on the monthly charts. The markets world wide can go on for a while yet before correcting and going into the oversold area on the momentum indicators noted in the charts. At these levels caution is warranted. December 4, 2012 is the date slated for a major pivot point.
So in summery, we could have a sideways market/up slightly till the end of the year and then get side swiped by a rouge wave.


Russell 2000 July 13, 2012

Dow Jones Industrial Average, Monthly Chart, July 13, 2012

Gold Chart July 13, 2012, Descending Triangle 
The gold chart above shows a descending triangle. Triangle are noted to be a continuation pattern but the the Descending triangle can also be noted as a reversal pattern. Should the price break below support, it's not necessarily the end of the gold bull market but sometimes these patterns break below, have a rounding bottom, then go on to make new highs. Look it up in Edwards and Magee.
"Technical  Analysis of Stock Trends".

HUI Index Monthly Chart, July 13th 2012

JP Morgan & Chase Monthly Chart, July 2012

S&P 500 Monthly Chart, July 13th 2012



TZA Hourly Chart, July 13th 2012

TNA Daily Chart, July 13 2012

Wilshire 5000, Monthly Chart, July 13th 2012

Dow Jones Industrial Average, Monthly Chart, July 13, 2012

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