THE LONG-TERM VIEW: 4 MONTHLY CHARTS THAT CONFIRM A BULLISH SCENARIO FOR THE MARKETS

Posted By admin on May 29, 2011 | 0 comments

Last week I zoomed out of the muddled daily technical picture and looked at the weekly charts. Since this past week of trading was more or less nonsense in terms of technical developments, I decided to push out even further and look at the monthly charts to see if they are confirming the bullish picture that the weekly charts are painting.

Below are the monthly charts going back 10+ years for QQQ, Nasdaq Comp, Dow Transports and Networking Index:

click on charts below to enlarge