Dow Is In Bullish Trend

When everyone is expecting the market to correct, it proved otherwise. The head and shoulder pattern did a reversal and the Dow is back above 8700. The breakdown below 8000 points did not occur.

The phase chart is showing a “Bullish” signal for the index. The indicator moved into “Bullish” phase on 15 July and has maintained bullish stage for 3 trading days. The trend is clearly in favor of the Bulls.