The Dow yesterday touched the converging alpha & beta upper price pressure curves and closed below them, as you can see below. Overall, the price action for this week has been very well contained within our curves.
Time-wise, we are well within the time window for action. So, we are keeping a close eye on this one…
Now, an interesting point to bring up here is that the convergence of pressure curves is a very unique phenomenon, which does not occur very often; but when it does, it amplifies the powers of the two curves, as we saw this week.
This particular convergence culminated on April 16th/17th (i.e. last Thursday/Friday). The big range day on left in the picture below was the 17th.
Click here to join our free mailing list for a taste of our unique market insight/foresight. To join our premium newsletter and receive our premium content, send us an email from the “contact us” page here and we will send you the subscription link with all the details.