DJI 2 yr Daily Chart
If...If this is going to pan out, here's what I see.
1. Since breaking out of its wedge in Nov '11, DJI has backtested the wedge breakdown 4 times. A large drop here would not be shocking.
2. The impulsive rises since the beginning of the year look similar in nature to 7/19/11 - 7/21/11, the final pop higher, before the deluge.
3. The green trendline needs to be broken to the downside, as its similar trendline was broken in 2011.
4. Daily stochs are overbought.
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