Martin Armstrong weekly Dow Array

tornadojoe(41)
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I'm a bigger fan of the array's than the commentaries typically.

From Armstrong: https://www.armstrongeconomics.com/markets-by-sector/stock-indicies/dow-jones/the-dow-outlook-2/

"ANALYSIS UPDATED AS OF THE CLOSE OF Fri. Jul. 14, 2017: This market has been making a new historical high this month on Fri. 14th at 2168153. Closing support on a weekly basis now lies at 2133300. A weekly closing below this level will signal a short-term correction is beginning. From a technical trading risk perspective, long positions should be exited if this level is broken on a weekly closing basis.

From the view of a position trading perspective, the market has exceeded the previous high made back in June at 2153503 reaching 2168153. So far we have a very dramatic event exceeding last year’s high of 1998763. The technical resistance stands at 2172761 with technical support resting at 2148041 and 2100653. Any long position should use a protective sell stop on a monthly closing basis at 2055344. Remember this is just a trading suggestion given it is merely a trading observation rule. Buy or sell signals take place on Reversals and Cycles."

Martin Armstrong weekly Dow Array | Ecency