The Staircase Formation Begins...

The Dow gained 145.27 points today amidst more M&A news and completed one step in the Staircase Formation. If you do not know what the Staircase formation is, you should read back on my posts in June where the Dow gained steadily on the staircase formation. Short term momentum indicators continue to show bullish momentum gaining as volume gained slowly and steadily too. I see the staircase formation going much further and it will not be strange to see another couple of days of sideways trading before another big up day. That is the staircase formation. Anyone who went long on the market on my dragon tail formation comment on 16 Aug would have made money by today. :)


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