Sunday, October 27, 2013

Monthly charts and Bollinger Band observations

$INDU - Chart Link - One thing that I've noticed is that the indexes (except for the Dow) have closed well outside of their monthly Bollinger Bands, especially the Nasdaq.

$INDU - Chart Link - this second chart shows a larger version time frame, notice that most of the time, the next month is a down month after closing well outside the monthly BB, not always, but most of the time, 2006 time frame as a notable exception, of course I'm just showing the obvious, things are clearly extended

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