Welcome to Chart Chatter where we discuss various technical charts we find of interest. We cover indices, signals and stocks on different timeframes highlighting different technical techniques we use over time. We’ll focus on key observations we find relevant which readers may find of use for their own trading.
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We’ve been watching this recent bull flag on the $DJIA and it’s broken out above it:
Note several things are happening here: $DJIA is tagging its upper trend line again, but also is entering its gap fill zone from January, a potential key pivot point.
This move is also coming on the highest RSI reading since January.
As an added point of context: The January rally saw saw broad index participation. This move here comes with notable relative weakness in $NDX:
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Categories: Chart Chatter