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Long term chart of the Dow Jones Industrial average
 
        
            
            
    
        
Rank: Advanced Member
  Groups: Registered, Registered Users Joined: 6/13/2005(UTC) Posts: 52
  
 
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                Attached is a long term semi-log daily chart of the Dow Jones Industrial Index from 1900 to the present. As you can see, if the price is not above a 1,000 day SMA and the 1,000 SMA is not in a strong up trend you can't have roaring bull market.
 
There have been periods in the past where there was a strong bull market followed by a down to sideways market. It looks like we are in the down to sideways part of the market.
 
There is a trend line channel (Magenta) that has contained the trend for a extended period of time and now the price is outside the channel.
   
            
  
         
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Long term chart of the Dow Jones Industrial average
 
    
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