First Ever ‘Technical Analysis Challenge’

By Dr. Paul Price of Market Shadows

The DJIA has been moving like a yo-yo since early May. Even I can see a ‘head and shoulders’ pattern in the chart below. Of course, it is never hard to predict the past. The future is more difficult to forecast.

  DJIA Apr. 4, 2013 - Oct. 4, 2013                     

Consider this an open invitation to all TA’s … Please tell us what the market will do over the next one, three and six months.

Anyone putting a correct answer here in the comments section or on my Markets Shadows site will be rewarded appropriately and will be officially recognized by a ‘fundamentals’ guy.

Please… no weaseling. Don’t tell us that the market will go down if it breaks through support and that it will be headed higher only if it breaks above September’s all-time peak. That would be looking backwards once again.

 

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Kris Andersen 10 years ago Contributor's comment
If anyone really knows where the market is heading, they have access to a crystal ball. Mine's on the blink but here are my guesses based on support/resistance for the Dow Industrials: 14450 by this Halloween, 14000 by this Thanksgiving and 13000 by St. Paddie's Day.