Hello Fellow ChartWatchers!
We're pretty busy today re-vamping our network security systems so I only have time for a quick post with two important points:
1.) The Dow has shot up a ton recently and is ready for a pull-back.
The MACD line shows faltering momentum - specifically, the MACD histogram is declining towards a bearish signal-line crossover. In addition, the Dow is now in a huge zone of overhead resistance which is evident from the two big "Volume-by-Price" histogram bars sticking out from the left side of the chart.
2.) The "Stock Trader's Almanac" for 2016 is here and it's on sale!
This book really is "required reading." Do not be caught flat-footed by known future events! Get this spiral-bound calendar/almanac, keep in on your desk and consult it at the start of every trading day. We have the 2016 edition on special right now. You won't find a better price anywhere. Click here to reserve your copy and don't delay, we always sell out of this item. Here are some quick pictures I just took of the new edition sitting on my own desk:
(If you look closely, you can see the "January Barometer in Graphic Form Since 1950!")
Take care,
- Chip
