6 month chart with different view, page-4

Just an arithmetic view of the DJIA chart for the past month lol:


Mid January bounce off 11500 on the highest volume for the year was clear capitulation and can be read as a medium term bottom. 11500 to 12800 run was a natural reaction to oversold status of the index. Retrace to neutral grounds of 12100 was expected on profit taking but retracing on low volume and settling at 12300 on a Friday looks bullish short term. From here, DOW could do a medium term bull run towards 13500.