I profiled the long-term view of Wal-Mart a few weeks back, and surmised that the stock was poised for a big move after over a decade of being “dead money.” You can see the updated monthly chart below, which shows that the stock has performed quite well since my post and is in the process of printing a strongly bullish monthly candle.
Turning to two other components of the Dow Jones Industrial Average, you can see that Disney has essentially been dead money over the past decade as well. To make matters worse, Intel has actually been in a downtrend even after its ferocious “Dot-Com” crash at the turn of the century. Disney has found the initial support you would expect it to after a straight down multi-month move to its median price of the past decade. Now, however, comes to the hard part for the bulls, as the initial bounce wears off and strong hands are needed to hold the line.
On a more constructive note, Intel is breaking out from a decade-long downtrend. There is still quite a bit of heavy lifting to be done, but a move through $25 should bode very well for long-term bulls of this bellwether in the chip sector.
6 Responses to Debbie Downers of the Dow
We’re taking a fucking picture in front of the castle, GET OVER THERE…and this time SMILE!
Love $WMT essentially its done this dick tease 20 times before, however, I like what I’m seeing as well in the monthly.
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