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Richard's Remarks

 

By the way, does anyone know what happened to my old friend, Julian Snyder? When I last heard from Julie, he was in Switzerland -- Russell.

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Below, a point & figure chart of the Dow. This looks like a head & shoulders bottom pattern, with a right shoulder that today broke out bullishly to the upside. Today was a game changer. The Dow surged over 200 points, and broke out cleanly from the formation that you see on the chart. And just to make matters more difficult, the Transports failed to close above their comparable P&F level. Thus we have another unconfirmed high in the Industrial Average -- with the Transports failing to confirm.

 

 

 

Below I include a P&F chart of the Transports, and you can see that the Transports have not confirmed. To confirm on this P&F chart the Transports would have to hit the 5300 box.

 

 

 

Confession --- I've mixed point ... Log in or subscribe to continue reading.


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