Technically Speaking

U.S. Equities Have Become Taxing

Source: DTN ProphetX

This post will be just a short note reminding you to keep a close eye on the Dow Jones Industrial Average Monday. As its daily chart shows, the DJIA has recently seen increased volatility as debate over U.S. tax reform ebbs and flows. The overnight session (Sunday evening through early Monday morning) finds DJIA futures up more than 200 points, hinting at an explosive move when the Big Board opens. From a technical point of view, according to legend, a market tends to see wild price moves on increased volatility near tops. If so, one has to wonder if the long-awaited fall in U.S. equities is within sight. Stay tuned.

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