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Dow Tests 70-Year Breakout

ByChris Kimble
Published 02/02/2018, 11:14 AM
DJI
1.05%

Below looks at the Dow since the early 1900s on a monthly basis, with momentum applied in the upper part of the chart.

Monthly Dow: 1912 To Present

Today's Dow is attempting a breakout of this 70-year channel at (3) as the trend is strongly higher.

As it tests this breakout level, monthly momentum is at lofty levels. The only other time monthly momentum has been this high in the past 100 years was 1929, 1955, 1987 and 2000.

Stock bulls don’t want to see selling pressure start at the top of this 70-year channel with momentum this high.

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Latest comments

SolomonFeb 04, 2018, 12:49
What's the value at bottom of the channel? Can't decipher as you've log scale
tony oohFeb 02, 2018, 22:19
mo is great, no doubt. almost started another buy today in my fav sector. believe me, i'm looking. knowing i won't snag one of those down days, few and far between (you know what i mean kimble). but, i'm awaiting. chances are improving, as you say, when herd and pension trusts, start selling into pressure for obvious reasons. most, all, readers have no idea what you're saying here kimble. and, i'm glad. greed is good.
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