Tuesday, March 16, 2010

Daily look at the DJIA

DJIA Daily

No, I am not going to put up a DJIA chart every day.  What I mean is that since yesterday I put up a short term 5 minute bar chart of the DJIA and today I'm putting up a Daily bar chart of the DJIA. Does either chart help in trading the markets?  That's a personal answer, depending on how you trade.  For me, a resounding Yes, they both help in their own way, especially as the patterns resolve with subsequent price action.

Perhaps less clear, the value of a 390 minute bar chart, or my preference, 480 minutes (below) which although technically is a  1.25 Day bar chart, does present some interesting contrasts to the Daily bar chart.

DJIA 480 minute

More on this in future Blogs, a confirmation and non-confirmation kind of rock and roll.


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