The Dow edges up, but are we near the top?

The recent rally in the Dow is showing all the signs of having run out of steam. John C Burford uses his trading methods to find out where to place his next trade.

In last Wednesday's post, I asked the question: Will the Dow break above my tramline and make a new yearly high?

Yesterday saw the rally extend, and the Dow did not quite make that new yearly high but the S&P did!

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.