Recent TA retesting actions of the DOW
The Dow retested its new major support line today (11255) and respected it to move back higher to close at 11357 (up 10)
Note how it did this retesting mini correction action after it broke its previous 10720 resistance (blue circle).
Also of TA interest was the pull back retesting of its falling wedge after break out
http://i458.photobucket.com/albums/q...10intraday.png
Who believes in Historical Odds?
2011...Will it be another Year of the Bull or is it Bear-time once again?
Well, we now know who won the race in 2010? The Bulls :t_up:..The Dow ended the 2010 year up +11%:)
Good news..eh another "up" year following the 2009 year of +19% :)
Therefore 2011 going to be better, especially with the global economy in recovery mode, you would think..huh?...Out with cash and lets buy up stocks...3 years of a rising market is common I hear you say...the dates and figures below proves it so...eh
1924 - 1928....4 years in a row
1933 - 1936....4 years in a row
1942 - 1945....4 years in a row
1949 - 1952....4 years in a row
1954 - 1956....3 years in a row
1963 - 1965....3 years in a row
1970 - 1972...3 years in a row
1985 - 1989....5 years in a row
1991 - 1999....9 years in a row...wow:eek2:
and 10 years have past us by ...so ...we must be overdue for another 3+ years..eh
Ok..party pooper time... here's the bad news....note the blue date
History shows us that since 1901 ...only once has there been 3 "up" years in a row in a Secular Bear Market Cycle
1970...+ 5%
1971...+ 6%
1972...+15%
The DOW has seen many 3+ "up years in a row within the Secular Bull market cycle as shown above (the black dates)
.... unfortunately the DOW is presently in the middle of a Secular Bear Market Cycle (2000-????):(
It's 2011 now and it's another blue date... do you still feel lucky?
2009 - 20??....? years in a row