why the DJ Utility Index formation is important

back in April 2014 (http://bartscharts.com/2014/04/19/dow-jones-utilities-long-term-1942-price-pattern/) we ID’d a long term pattern that was completing.  the market subsequently went up into Jun/Jul and hit the target.  now it appears we “might” be carving out a Head and Shoulders Daily topping pattern.  Note, this same pattern came into play on a MONTHLY basis during the 2007-2008 time frame.

the reason we are watching this closely is because of the presence of this long term topping pattern that has hit and held, thus far.

Main20140928162306 Main20140928162447 Main20140928162555

Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets.

One thought on “why the DJ Utility Index formation is important”

Leave a Reply