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Although I doubt anyone here dismisses the notion that Jerome Powell’s welfare program known as QE4 isn’t the sole reason for the explosion in equity prices recently, I’d like to take advantage of SlopeChart’s comparison feature to show this:
I’ve received plenty of positive feedback from our introduction of the new “accumulation” data of the Statistics data panel. We have rolled this exact same information into the technical studies menu in SlopeCharts:
Happy pre-Thanksgiving to Slopers. To be clear, today is a full trading day, and Friday is a shortened day, closing three hours before normal.
I wanted to thumb through a few big cash index charts. In most of these cases, they have blown right past their Fibonacci extension targets (thanks to Powell’s QE4). These extensions are based on major high/low anchor points, and are represented by horizontal lines. Here is the Dow Composite:
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