Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Dow Megaphone Breakout Continues, As It Tests 77-Year Breakout Level

Courtesy of Chris Kimble

I’ve heard many times over the past 39-years I’ve been in the financial services business that charts have memories? Is it true they do? Is it possible that they have very long-term memories?

This theory looks to be put to a big test by the chart above, which looks at the Dow Jones Industrial Index since 1910.

The Dow has spent the majority of the past 77-years, inside of rising channel (1). While inside of this channel, it looks to have created two very long-term megaphone patterns.

It broke above the first megaphone pattern in the early 1980s, where it used old resistance as new support at (2). After support was tested and held, the Dow experienced a very strong rally for nearly 18-years.

It again broke above megaphone resistance and used it as support again at (3), and another strong rally is taking place. The rally off support point (3), has the Dow currently testing the top of the 77-year channel, which is created by connecting the 1929 and 2000 highs.

With the trend being strongly higher, will the Dow breakout and forget that it is testing the top of this long-term channel or will the Dow remember that the top of this channel is in play and take an important breather?

I will discuss this chart and many more in our Free Webinar this Wednesday. I would be honored if you could join us in discussing what key inflection points we fell are opportunities at this time.

To sign-up for the webinar CLICK HERE.

To become a member of Kimble Charting Solutions, click here.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!