Monthly Archives: January 2021

Sideways to Down Movement

The DOW met 31200 resistance last week and the weekly cycle oscillators promptly turned down.  Even though the last week’s low didn’t penetrate the previous week’s low to produce a swing high, but the mere fact that the weekly cycle oscillators have turned down is enough to call this weekly cycle top in place.

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Watch the DOW at 31200 Level

The DOW closed at all time high last Friday while the US capital was under mob attack on Wednesday.  The bull market doesn’t care whatever happens on the main street.  It cares only about the money, when there is so much money on the sideline, it has to go somewhere!

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The DOW Into 2021

The DOW closed at 30606.48 at the 2020 year end which is bullish but not in a breakout position.  In order for the DOW to be in a breakout position, it had to close above 31291 to carry the market higher with momentum.  The S&P 500, NASDAQ and small cap Russell 2000 index are all in confirmed

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