On 4/10/13, when the Dow was around 14,600, the Power of the Pattern suggested that the upside target for the Dow was 16,000. (Dow 16,000 April post)

I shared at the Stocktoberfest meeting two weeks ago that Dow 16,000 was a very important price point, due to a series of resistance lines all meet at one price point, dating back to the time Nixon was impeached from office.

As the Dow came close to the resistance in May, the lines held it back. Now the Dow is very near the key lines again.



How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past