Well on July the Rate ( USIRYY ) got rejected on its most important , the Lower Highs trend-line that has been in place since May 1920! This 100 year old trend-line has had another 2 rejections on inflationary peaks (February 1947 and March 1980).
As this chart shows, every drop from a Lower Highs peak was followed by a multi-year rally on Dow Jones, essentially a new expansion period. An exception parhaps was May 1920 when DJI continued to fall for another year, despite a massive correction on .
What do you think?
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