Here is a daily chart of the Dow Industrials over the past year. In my last post on the subject I discussed various examples of Lindsay's three peaks and a domed house formation. In this post I want to focus attention on the "mini three peaks" which is the example that has developed most recently.Today's upside breakout identifies the recent low near the 13000 level as point 14 of the domed house. (See the schematic I published here.) The implication is that the Dow is on its way to new highs as sketched in the chart. I believe the up move will start to loose steam in early November at which point I think point 21 will develop. However I also think that the average will go still higher later this year or in early 2008 to form point 23.
1 comment:
good market calls Carl.
I've been sticking with your mini 3 peaks and a domed house analysis since you started to see it, that's why i didn't sell during recent death spiral days.
onwards + upwards, I agree, to point 21, then 23. let's make some $. we can let some of the steel out from our nerves now.
-Nick
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