Only twice a year - Bullish sign for Dow Jones

by Michael Gable

Looking at a daily chart of the Dow Jones (below), it has just moved out of an oversold condition on the RSI. Looking back for the last two years, I have circled the points where it has done this before. It has happened 3 times before. If you project into the future from that point, it has rebounded each and every time. So with a time frame of at least a few weeks from today, you can say with good probability that it will be higher. It should drag our market with it.

So I think from around these sorts of levels we should see a bit of a recovery again. Looks like a twice a year event. You may want to do something about that?



Disclaimer: Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.

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