Those that view the message of the market on daily basis are likely confused by trading noise. While trading noise contributes to long-term trends, it does not define them. The focus on short-term noise rather than trends, a source of confusion for the majority of investors, leads to the creation of bagholders at major trend transitions.
Dow Industrials remains a triple Up mid cycle alignment. Buyers of the alignment should sit tight as neither performance (BuS) or time (BuST) are extreme. Disciplined traders, however, never chase anything higher than early cycle alignments.
Subscribers can look up the Dow's DI. You tell me if it's bullish or not. Are we closer to bullish or bearish setup? Alignment told us not to chase, so don't go crazy analyzing energy.
Dow's ProIndex confirms consolidation. It's moving in lock step with price. Dow traders are looking for divergences against price. The Dow's ProIndex has yet to establish a new all-time high. That's a divergence.