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 TECHNICALS
DJ Industrials:  Still Into My Weekly Rising Wedge ?
 November 30 ( From TradingView )
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The Situation

​​​The US equity market is showing some strength since the previous bottom
reached on August 24​ 2015. In fact, the Dow Jones Industrials​​ is ​performing
​very strongly since then.


​​Two chart below is worth a look where we will show the the ​​Dow Jones ​
​Industrials big picture on a weekly basis.

​​The first chart below shows that the huge correction we had back in August
​tested a Major Support Trendline from a Weekly Rising Wedge that started
​back since February 2009.
( See 1rst chart below - Amber Trendines )

​​But the most interesting technical factor is that, On a Relative Basis
​compare to the NYSE Composite Index, the DJ Industrials outperformed
​tremendously to reach levels not seen since July 2002! ​​​Are we getting a Relative Triple Top ?
( See Red Trendline - Second Chart Below  - Ellipses )

Those previous peaks in that ratio have been most of the time near a bottom for the Mighty SP500 Index.
And only once since 1997 that this ratio reached the reversal zone and was near a major top: In 2000 with the tech bubble...​ ​​​​( See Vertical Trendlines - Second Chart Below )


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Dow Jones Industrials
​​( Weekly Candles )

Charles Dow
DJ Industrials: Still Into My Weekly Rising Wedge ?  $DJI, $SPY  #investing #dowtheory #SP500 #dowjonesindustrials

Financialiceberg.com
RATIO
Dow Jones Industrials
over
​NYSE Composite Index
​( Weekly Candles )

Financialiceberg.Com