Thursday, 23 March 2017
S&P, DOW, NASDAQ: Monitoring the Downswing
S&P 500 and DOW 100 reached a peak on 1 Mar 2017, ending a charge that commenced last November.
The trend-line, "Long-term down-slope," indicates the possible top of the down-slope of the potentially-emerging Market. If so, there will be upswings and downswings within this down-trend.
The "Indicative Resistance LIne" indicates a possible marker (Resistance Line) by which the end of the current down-swing can be guessed. In other words, if this line is breached in the near future (by SVP and/or DIA), I will judge that the present down-swing is over.
Nasdaq rises and falls farther than the other two. It will be interesting to see if it will now take a real plunge.