Dow Jones Industrial Average, a chart pattern inside a chart pattern, clues of prior things to come, in this case the expanding triangle chart pattern.
A long time ago a wise old trader on the Chicago floor was talking about chart patterns within chart patterns and clues these patterns give you, the patterns are there, have always been there, are still there and will always be there - even if the stock market is manipulated. The book (click the link to read it FREE).....Reminiscences Of a Stock Operator by Jesse Livermore will show you the system and the market psychology was no different a 100 years ago as it is today. The book doesn't talk about chart patterns but if you look at the charts from that era, they're no different then as they are today.
The January 14th top in the year 2000
A long time ago a wise old trader on the Chicago floor was talking about chart patterns within chart patterns and clues these patterns give you, the patterns are there, have always been there, are still there and will always be there - even if the stock market is manipulated. The book (click the link to read it FREE).....Reminiscences Of a Stock Operator by Jesse Livermore will show you the system and the market psychology was no different a 100 years ago as it is today. The book doesn't talk about chart patterns but if you look at the charts from that era, they're no different then as they are today.
The January 14th top in the year 2000
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Zooming out of the chart pattern from January 14th, year 2000
Zooming out of the chart pattern from 1998 to present day April 15, 2016
I also have the Andrews Pitchfork in the chart as well (if your wondering what that is).
Take note .... chart patterns don't always play out, the price is above what used to be resistance, so analysis dictates we should be long, however, if this market breaks down - your stops should be in place.
Anyway... I'll let you draw your own clues to what the expanding triangle chart pattern is trying to tell us.
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