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Joe Friday says investors should watch the Dow-Cow indicator very closely right now!
On the surface does the Dow and Cattle prices have much in common? Not really, they are very different markets for sure. On the flip side they have a ton in common, as they both reflect how confident society is or isn’t about two key sectors of their lives.
Both have done very well over the past few years. Both could be forming bearing rising wedges, with support of these patterns being tested at the same time.
The above chart of “Feeder Cattle” shared 8 days ago, looks at the potential that feeder cattle might be forming a Eiffel tower pattern
Joe Friday just the facts….If the Dow & Cow break down at the same time, it would reflect big picture risk concerns from the investing community. So far NO breakdowns have taken place, as support is support until broken.