Loading ...VIVE THE JAWS OF LIFE !
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Rambus March 16 2016
“I promised myself I wouldn’t post this next long term monthly chart for the INDU as it has been frustrating watching the breakout and backtesting process over the last several years when I first posted the bullish possibility. As long term members know I call this very large pattern on the INDU, THE JAWS OF LIFE, which is the opposite of how most analysis see it. Most call it the JAWS OF DEATH. You can see the blue triangle that is basically forming on the top rail which is generally a bullish development. This is about as clear a picture you’ll see anywhere on the long term perspective for the INDU.”
Tip of the hat to Rambus.
Can somebody find an analyst who saw this coming back as far as 2014 ?
“I know many don’t believe in the longer term prospects for the stock markets but the long term charts are saying something totally different IMHO. Below is the long term monthly chart for the INDU which shows the expanding triangle that I’m calling the JAWS of LIFE. Note the long bar that bactested the top rail of the expanding triangle just three months ago during the October correction. That was one critical backtest that confirms for me the top rail is hot and the new impulse move is underway. There’s still a week or so of trading before the monthly bar for December can be put into stone. Unless things really change over the next few weeks this is a very bullish looking chart to me.”
