The Dow meets support on tramline

The Dow has pulled off a surprise rally. But with a strong line of resistance blocking its path, can the market break through? John C Burford examines the charts.

It's Halloween and the markets are getting downright spooky.

Yesterday I read that a very prominent and large London hedge fund was shutting up shop because "the founder feels he has no edge in the current markets".Translation: "I have lost money and investors are getting nervous".I believe this is happening across the industry.

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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.