Friday, December 2, 2016

Dug up some old monthly arrays that are still covering the current period.

This is also a turning point week and quarter for the Dow (although the quarter doesn't end until Dec 31)

So a turning point in November, and a seemingly important one.  Unfortunately, given the action of the month, this could be referring to the high or the pre-election low.

With the weekly turning point I showed earlier, I think the timing is good to get in.  Trading the DIA was a miserable experience, so I'll be trading the SPX and hoping the same applies.

Grading the previous months, July was a major top / success.  The downtrend blew threw September (which isn't as big of a bar) until it got to the larger November bar.  November had both a high and a low (pre-election) so I guess that means we don't know where it goes next. 

Like the Dow, the gold Sept turning point is iffy.  July was a major top/hit, with sept being just a bump up that didn't last.  I suppose you could call it a turning point. Nov say a major crash so will that low hold until January?  That looks like it will be the biggest turning point of them all. 

If gold drops additionally until January, I'll look for a 900 something buying opportunity, because this might be a major bottom. 

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