Today major indices made bullish weekly candle formations, confirming the rally. Two days ago a similar message was sent by the monthly candles (link below). Let’s look at the details.
SPX and NQ: Confirmed Bullish Engulfing.
DJI: Confirmed Bullish Harami.
Smallcap: signals a possible pause (nothing bearish yet).
DJI has completed a bullish flag that projects a rally towards $35900-36000 area in the next 4-6 weeks. SPX and NQ are also pointing upwards, however, their targets are not as clean as DJI.
Follow the blog by subscription or on Twitter @InvestingAngles. Like and RT.
Bullish Monthly Closure: