Based on our DOW chart analysis last week, it seemed likely to dip below its Ichimoku Cloud. Here's what happened since, and what to look for now.
What the DOW chart is telling us including daily chart analysis, resistance and support levels, and patterns.
The Dow Jones has penetrated support at the base of the Ichimoku Cloud, despite a lack of selling. So let's take a look at a few other major stock market indices to see if their charts indicate a similar lack of participation by sellers and what that might mean.
When you have looked at enough charts over a very long time – sometimes you notice the obvious, and sometimes you do not. The weekly chart for the Dow tells us that we are witnessing something truly unusual – a strong, broad-based decline across many different sectors of the market that lacks volume confirmation.