10 Charts Prove The Uptrend Is NOT Dead
Kay Kim | Apr 01, 2016 04:30PM ET
As we start the spring season, passing the end of March yesterday, I want to share all of the indices monthly-charts to understand the big picture perspective (see this article). I've been emphatically expressing that it's imperative that we understand the big picture to understand the current sentiment.
So many traders and investors believe that we are in a downtrend, but technically speaking (as I will be showcasing the charts in this post) we are not currently in a downtrend.
In fact, we are STILL in an uptrend with sideways action since 2015; this means, benefit of the doubt still goes to the buyers in the grand scale. This major primary-term uptrend is important, because, in the event that the market makes new highs, it will mean that the market has always been in an uptrend (see my last video commentary on this).
Therefore, these charts are extremely important for long-term traders/investors and also to intermediate-term traders as well.
I also want to add that there are still levels the buyers need to overcome in the intermediate-term before we come to a conclusion that the market is ready to make new all-time highs.
Current sentiment could change quickly from bullish to bearish as we have been dealing with that kind of market this whole year, so when the market shakes, big picture perspective will help us to gauge.
h3 Dow Jones Industrial Average/h3
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