1950-1951

Korean War story....

       The 1951 rally stalled out by June after a series of head and
shoulders pattern developed.  Interestingly, they were not completed
with declines below their neckline.  Moves above the apex of their right
shoulders aborted the first pattern in December 1950 and in March 1951.
The sprawling pattern of 1951 showed a neckline at 240.   A move above
259 might have been said then to be a breakout above the right shoulder,
thereby aborting the pattern, once again.  And that is exactly what did
happen in July 151.  The Peerless Buy B17 in mid July would have
helped a trader anticipate the nullification of the sprawling head and
shoulders pattern.

7/15/51   B17  250.3  1.005
?7/24/51   S9    258.9   1.034  reached upper band in 17 days. P=49.8
9/12/51   B15  275.3  1.025
9/20/51   B18  274.1  1.01
5/1/52     S10  256.4  .979
5/2/52     B19  260     .994

1950 - 1951    DJIA AND NYSE A/D LINE AND ITS TREND CHANGE BUYS AND SELLS














1950 - 1951  PEERLESS DJI, REGULAR BUYS, SELLS AND INTERNAL STRENGTH INDICATORS

1950 - 1951  PEERLESS DJI, EXTREME BEARISH BUYS, SELLS AND INTERNAL STRENGTH INDICATORS