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Is The Dow Double Topping At 90-Year Resistance?

Courtesy of Chris Kimble

Is the Dow facing an important long-term price test? This chart would suggest yes!

This chart looks at the Dow Jones Industrials Index on a monthly basis over the past 100-years.

The Dow has spent a good deal of the past 90-years inside of bullish rising channel (1). This channel is a reminder that the long-term trend is up.

The Dow hit the top of the channel to start out the year and then it experienced a large decline.

The rally off the March lows has the Dow testing the highs of earlier this year, as it nears the underside of its long-term channel at (2).

This chart reminds me of the low odds/high impact idea.

 The odds are low the Dow is double topping currently. However, If it is, the impact on the Dow could be rather large!

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