DJIA, Dow

djia jan 28 2016

This is the DOW today. It is a diagonal triangle in EW terms, a wedge in English. It is normally characterized by overlap which occurs here with just about every wave. It does not bode well for tomorrow morning. We will see.

What it reminds me of is that I used to put out a morning letter on the long bond futures contract that went out at around 7.30 a.m , well before the opening of the bond futures in Chicago. I did that faithfully for about four years in a row. My point is that you do not need more than one or two stocks or bonds to accomplish all you want in the market. You just do it more intensely.  In Canada you could use the HXD and the and just switch from one to the other. If you are interested in oil, the same can be done with HOU and HOD. The advantage of such an approach is that you do not lose sight of what you are doing, as , for instance, I do all the time with this blog as I cannot keep track of 500 stocks.

Here they are;

hod jan 28 2016hou jan 28 2016

In a week these gain or lose 50% no problem. Beats buying Husky or something like that. Good luck.