INDU
Dow Jones Index (INDU) is in progress of a BT of the little BLACK line from below (RES) @ 32,500 approx.. BT-ing its’ Triangle. Even to become bullish in SM (Stock Market), INDU needs to escape the FORKS and BO. Although such is a possibility … we could als see INDU in progress of creating a 3 month BULL FLAG (see green parallel line). Such is the most bullish scenario I see going forward on the ST. If/when the little green will not hold … then SM is in utter bear camp.
BTW: spring season coming in the Northern hemisphere … meaning: BEARS awaken from winter hibernation. Just saying.
IMO. DYODD.
the dMA(200) is functioning as RES as well. Today the BT on the dMA(200) from below could already have been the BT !!!
Such suggest DOWN INDU goes.
As INDU goes, so goes GDX … as presented before with the INDU-line chart with GDX overlay.