A Sunday afternoon stroll through the DOW.This is chart I have...

A Sunday afternoon stroll through the DOW.
This is chart I have had going for about two years. It is merely an exercise in joining the dots and having a look at potential upside, S&R and cycles.
I have drawn a channel defined by the yellow circles. Lo and behold we are back at 50% again. Interesting that the 2009 pulled up bang on 50% below the channel. 168 months features strongly (I cheated with the first blue count as I started in July 1982 which was the 50 year anniversary of the 1932 low). As do price intervals of 1618 and % of same.

Of note if it has not been mentioned by others is 16,046 is 200% of the range from the 2009 low to the 2010 top. Before that though we are at a potential big double top. 42 months from the GFC's August top and a range exactly (by my data) of 6400 points which is the square of 80 and very close to 2 x the 2009 low.

If a run up to 16k were to play out and I have no conviction that it will, what a MASSIVE three thrust top that would be!

I think what is on the chart is self explanatory ...