The DJI tried to breakout above 185 in February 1947.  The
Accumulation Index was positive, but the NYSE A/D Line did
not confirm the breakout.  The breakout failed and the DJI had
to retest its lows of August 1946. In June 1947, it broke out above
a 10-month, well-tested price down-trendline.  The A/D Line
improved quickly and the Accumulation Index moved over +.25.
But the rally again stalled out at 185 in July 1947.

     The DJI ran up and fell back from 185-190 on four different occasions.
This set up a key resistance level.  Once penetrated, it would become
important support and signify the likely beginning of an important
advance provided internal strength readings confirmed the breakout.

1947     DJIA AND NYSE A/D LINE AND ITS TREND CHANGE BUYS AND SELLS








1947  PEERLESS DJI, REGULAR BUYS, SELLS AND INTERNAL STRENGTH INDICATORS

1947  PEERLESS DJI, EXTREME BEARISH BUYS, SELLS AND INTERNAL STRENGTH INDICATORS

Events:
Britain nationalizes coal mines (Jan. 1)
January 31 - Communists take power in Poland.
February 3 - Percival Prattis becomes the first black news correspondent allowed in the United States House of Representatives and Senate press gallery.
·  February 21 - In New York City, Edwin Land demonstrates the first "instant camera", the Polaroid Land Camera, to a meeting of the Optical Society of America.
March 1 - The International Monetary Fund begins to operate.
March 4 - Truman proposes Truman Doctrine, which was to aid Greece and Turkey in resisting communist expansion
March 12). Marshall Plan for European recovery proposed—a coordinated program to help European nations recover from ravages of war (June). (By the time it ended in 1951, this “European Recovery Program” had cost $13 billion.)
March 29 - Rebellion against French rule erupts in Madagascar.
April 16 - The Texas City Disaster - Ammonium nitrate cargo of SS Grandcamp explodes in Texas City, Texas - 552 dead, 3000 injured, 200 lost, 20 city blocks destroyed.
·  May 22 - Cold War: In an effort to fight the spread of Communism, President Harry S. Truman signs an act implementing the Truman Doctrine. The act granted $400 million in military and economic aid to Turkey and Greece.
June 5 - Secretary of State Gen George Marshall outlines the Marshall Plan for U.S. aid to Europe.
June 23 - The United States Senate follows the United States House of Representatives in overriding U.S. President Harry S. Truman's veto of the Taft-Hartley Act.
July 26 - Cold War: U.S. President Harry S. Truman signs the National Security Act into

United States law creating the Central Intelligence Agency, Department of Defense, Joint Chiefs of Staff, and the National Security Council.

August 14 - After 90 years of British colonial rule, Pakistan gains independence from the British Empire under the leadership of Quaid-e-Azam Muhammad Ali Jinnah.

·  August 31 - Communists take power in Hungary.

September 4-September 21 - Hurricane in southeast Florida, Louisiana, Mississippi and Alabama - 51 killed.

October 20 - The Indo-Pakistani War of 1947 begins.

November 10 - Arrest of four steel workers in Marseille begins a communist rioting that spreads to Paris.

November 24 - Red Scare: The United States House of Representatives votes 346 to 17 to approve citations of contempt of U.S. Congress against the so-called Hollywood 10 after the 10 had refused to co-operate with the House Un-American Activities Committee concerning allegations of Communist influence in the movie industry, (the 10 were blacklisted by Hollywood movie studios the next day).

November 27 - In Paris, police occupy editorial offices of communist newspapers.

·  December 9 - French labour unions calls off the general strike and begin negotiations with the French government.

December 12 - the Iranian royal army takes back power on Azerbaijan province.