by Thomas Mullooly on October 4, 2011
Last week, we reviewed the action on the Dow Jones Industrial Average (DJIA). The date of that chart was September 27, 2011. In light of yesterday’s activity in the market, I have prepared a short, two minute video to review what is happening — just one week later. The great thing about point and figure charts is they allow us a clear view of what is happening RIGHT NOW.
We do not have to be bothered with predictions of where the market is heading.
If you are relying on a blog post for specific investment advice, you are making a huge mistake. Please speak with an investment adviser before making ANY investment decisions.
If you do not have an investment adviser, we encourage you to contact Mullooly Asset Management at 732-223-9000, or through our website. Under no circumstances should the content discussed here to be considered specific investment advice. The postings and videos on this site are my own and do not necessarily represent Dorsey, Wright & Associates positions, strategies or opinions.
Our point and figure charts are provided by Dorsey Wright & Associates. I encourage you to visit their website and check out their free two week trial subscription!
Please contact us at 732-223-9000 if you have questions.
by Thomas Mullooly on September 27, 2011
This is the Dow Jones Industrial Average (September 26, 2011 close). This is a 100-point box chart (each box along the side represents 100 points on the Dow Jones).
All charts are courtesy of Dorsey Wright & Associates
Dorsey Wright offers a free two week trial subscription, I encourage you to check them out.
We have been range-bound between 11500 on the high side and 10700-10800 on the low end since early August.
The overhead resistance line now sits at 11400. So if the market continues its’ range-bound ways, we are going to have a big test if we can get up near that 11400-11500 point. A break THROUGH those levels would help put the market in a positive trend.
Of course, if the resistance line holds, we could be looking at more downside. It is still risky out there.
All charts are courtesy of Dorsey Wright & Associates
Dorsey Wright offers a free two week trial subscription, I encourage you to check them out.
Dow Jones as of October 4, 2011
by Thomas Mullooly on October 4, 2011
Last week, we reviewed the action on the Dow Jones Industrial Average (DJIA). The date of that chart was September 27, 2011. In light of yesterday’s activity in the market, I have prepared a short, two minute video to review what is happening — just one week later. The great thing about point and figure charts is they allow us a clear view of what is happening RIGHT NOW.
We do not have to be bothered with predictions of where the market is heading.
If you are relying on a blog post for specific investment advice, you are making a huge mistake. Please speak with an investment adviser before making ANY investment decisions.
If you do not have an investment adviser, we encourage you to contact Mullooly Asset Management at 732-223-9000, or through our website. Under no circumstances should the content discussed here to be considered specific investment advice. The postings and videos on this site are my own and do not necessarily represent Dorsey, Wright & Associates positions, strategies or opinions.
Our point and figure charts are provided by Dorsey Wright & Associates. I encourage you to visit their website and check out their free two week trial subscription!
Please contact us at 732-223-9000 if you have questions.
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