I posted this on my journal, but thought it would be more appropriate to post it here as well. Not sure if the time frame for this chart is of any use to traders here, but thought it might add some value.
The Dow Jones Industrial Average seems to be in the process of forming the right shoulder of a Head and Shoulders pattern at the moment. I didn't include any trend lines on this chart, but anyone with knowledge on this basic pattern would know what to look for.
A quick extrapolation from the chart caters to suggest that, if the pattern follows through, DOW could go to 4000 by roughly 2020? :|