Wednesday, March 3, 2010

DJIA 240

I've shown this chart before, because it works so well.  It's a 240 minute (4 hour) chart of the DJIA.


If you insisted on one stand-alone chart for all of your timing, I'd be hard pressed to suggest a better one then the one above.  As of today's open, it will take about a 65 point drop from current levels to flip the trend from up to down.  Four hours is a long time, an eternity in futures and/or options, so this may not be practical for short-term trading. But it is an effective compass for directional purposes,  which if you think about it, is holy grail enough.........until something better comes along.


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