DOW 30 AT THE LONG TERM APEX

The Dow 30 Industrial Average is at a point of huge resolve. On the one hand we hear the bulls declaring that there is going to be a sustained rise over the next year or so, then on the other hand the bears are calling for a massive drop. What's it going to do? Just look at the monthly chart of the Dow below...it is log scaled and you can see that the 15 year old resistance line across the tops and the 5 year old uptrend have intersected...in June the index pushed up marginally through the resistance line and then last month the index dropped marginally though the uptrend and is now back at the top again. Something big is about to happen...expect a major move from this point! The InvesTRAC long term OB/OS indicator is overbought 99.9 (scale 0-100) with monthly RSI divergence and the forecaster shows top for either August or September then down until November 2016. Let's wait and see.

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