Market Direction and Stock Trends

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• US Share Market
By: Marty Armstrong | September 20, 2018

The Dow Jones continued to make new highs after exceed our first level of technical resistance. So far the market has reach 26654.19 this morning. We will have 26420.82 as technical support for the closing. Next week is a Directional Change showing up in all three markets. The week of Oct 1st is the strongest target in the Nasdaq whereas we have the week of 10/15 as the strongest targets in the Dow & S&P500. The Dow has been leading again so this is reflecting the international influence. The S&P500 is making new highs reflecting how the perpetual bears keep having to buy shorts back. The Nasdaq is lagging and that shows the domestic investors are still not on board yet.

This market is still in a consolidation pattern. The good news is the Dow has now exceeded the January high. Exceeding the September high in October points to higher highs going into year end. Our next targets will be November and January. Again, if we close above the 2017 high of 24876.07, we stand a reasonable shot at creating a Vertical Market. We will be going over the key points and markets at the WEC.

For now, only a closing below the 26030 level will signal a correction. This will begin to move higher with the market. The Reversals are the ONLY game in town. Once we took out the Weekly Bullish back at 25800, the rally was confirmed. Just keep the reversals as the key. They will forecast things far better than any person can ever hope.

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