TWO RARE CHART OCCURRENCES SHOWING PANIC SAYS DOW 20,000 MAY END THE MOVE $SPY $IWM $PFE $QQQ $UNH
Only three days ago I predicted that a performance chase is on. Wednesday’s nearly 300-point move in the Dow Jones Industrial Average shows the prediction was spot on. A performance chase buy program triggered the rally and performance chase turned the rally into a buying panic. This was yesterday; now let us look ahead.
It pays to pay attention to rare chart occurrences. The Arora Report “VUD indicator” shows two rare occurrences indicating a buying panic that historically occurs near the end of a move. Typically the move ends within days.
Click here for the annotated chart.
The chart is a 15-minute chart of DJIA futures.… Please click here or the title below to read more.
December 8, 2016