A timed chart for the May 17 1792 NYSE Radical Chart

[SteveS]

Dow up 292 today. So far with the first 2 days of this week it appears to be confirming a significent bottom last Thrusday.

[SteveS]

NYSE finished up over 500 points for the week---indicating IMO it will make new yearly highs before another corrected move down. There is a weekly chart with one of my favorite technical indicators that I have been watching for months. I will later try to post this weekly chart with its technical indicator for better explanation, along with my read on the current SSR for the NYSE Chart.

[SteveS]

Below is a link to a 5 year weekly chart of the Dow, my favorite chart to monitor. Put your cursor on the week for 10/10/2022 for a trending bottom at 34,000. Put a small ruler connecting all the bottoms since the 10/10 2022 bottom and note the smooth trend line pointing upwards. This trend line is stopping all corrective moves down in price. If the bottom at 34,000 for week Aug 21 2023 is taken out with a weekly close below 34,000, serious technical damage has been done to the NYSE. Major resistance is at the old all-time high at 37,000 made in the first week of Jan 2022. WD Gann always said it is very important to watch for possible major tops in the first week of every calendar year, sometimes for bottoms as well. Actually the NYSE made its all-time high exactly on a Gann seasonal Sun Date in Oct & Nov 2021. This is how knew in a knowing way a major top was taking place.

If you scroll down further you will note a technical indicator which is very reliable for significant tops & bottoms called the “Relative Strength Indicator.” Since the market is in a firm up-trend the first red flag signal for possible major top will be when this Indicator hits 70% of higher. Note the blues (tops) going back in time. When I see this Indicator hit the blues, I always look for Gann seasonal Sun Dates for possible tops. It looks like to me the market is going to test all-time highs at 37,000, TIME will tell. Anyway, boring to most but interesting to me bacause I love to analyze things (The Virgo in Me ), technically speaking.

https://www.barchart.com/stocks/quotes/ ... tive-chart

[Jim Eshelman]

Very interesting. From the Capsolar, I think next year will break multiple upward records in the market.

For showing broad trends, here is my favorite chart. The ONE thing to watch is the starting point (bottom) in February 2009. This is the point when we seriously started coming out of Great Recession's market plunges.

Using the ruler trick, lay across a line from that bottom until now. With small wanderings up and down, it's a straight line. It has little valleys and (mostly) little peaks: the little valley around 2016 is one (things softened in Obama's last year, after rip-roaring climbs for seven years), then the understandable steep ravine (drop) when Covid-19 hit in February 2020, then the almost shocking high 2021 climb before recession softened it. The ONLY reason 2022 seemed weak or bleak to some was the contrast to 2021. By now, though, it's not just that the market is up lately, it's that it's restored to essentially the exact same upward slope, the same angle.

DJIA.png

From February 2009 through now, it's almost a straight line (with proportionately small up and down variances). In about 14.5 years, it has climbed from 7,278 to 34,837, or 27,559 gain, or about 1,900 a year. That's been so stable, that it's a predictable 1,900 points a year - every year - if you take at least two years at a time when measuring it. On a pure "just add 1,900 points" basis, we'd expect the DJIA one year from now to be 36,737. Since Jupiter is exactly angular in next year's Capsolar for Washington, we expect it to be even better than this - AT LEAST 37,000+ and perhaps breaking 38,000 just before the election.

[SteveS]

For sure the market is in an uptrend, old rule, don't go against a trending market. What I will be most interesting in is when the RSI (Relative Strength Indicator) reaches 70 or higher. The Fed and their interest rate policy of climbing rates bothers the market-- but market still in a good uptrend. Stranges inflaction I have ever seen in my life, commodities not inflating except oil/gas, seems to be a labor/delivery costs of goods powerful inflaction. I know this: Cost of eating out, certain foods, gas expenses have gone through the roof----but still no commodities inflaction as a whole compared to what I have seen in the past. It will most interesting to me to see if the market can make new all time highs in 2024 even with the Jup Capsolar.

[SteveS]

The Oil Market is cooking appearing to be entering soon into a runaway mode. I have confirmed many, many Moons ago, the Oil Market vibrates to Gann’s “Square of Nine Chart” with their 16 different exact DATES. This may be a good opportunity to see if the Oil Market within the next few weeks has some type of blow-off top, topping to the exact DAY on one of these 16 Dates. Next Date is the Autumn Equinox Sept 23; then Oct 16th. I will be monitoring the next few weeks the Weekly Chart (link below) with its Relative Strength Index, which for right now is nowhere near an overbought market (TOP).

https://www.barchart.com/futures/quotes ... tive-chart

These high Oil prices will soon start having a psychological effect on the NYSE.