littleriver

DOW LOSING MOMENTUM

DJ:DJI   ダウ平均株価
Looking at pivots a and b it is clear price is losing energy . Not only has price not traveled as high in a relatively same time span but it has also lost upward momentum. We can see price was rejected on it's first attempt to cross the previous highs (yellow line) . This crossing also happened to coincide with pitchfork Pa's lower middle median line. It took a considerable amount of time and energy to make this new high. The lower middle median line of pitchfork Pa has acted as support up to now but it appears not anymore. Price is once again approaching this median line and if fridays candle is indication of the future, we may see the market turn to a flat. I have added pitchfork Pb to accommodate this possibility. Should price be rejected next week at the high median line of pitchfork Pb , then look for it to return to the center median line of Pb.
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