Presented below is a daily action chart for the DJX for most of 2011 and 2012.
The horizontal solid yellow annual echovector highlighted for yesterday indicates an incredible price level test to almost precisely the same price levels seen on Wednesday exactly one calendar year ago on the DJX, and the DIA.
Also note the yellow-spaced parallel and coordinate echovector. It illustrates that so far this calendar week, this years and last years weekly high is also almost precisely the same price.
This nearly exact price symmetry and reflection, on a year-over-year basis, to the week, and to the day in the week, is quite incredible.
This phenomenon, very rare, is also usually indicative of an 'uncertain market,' which is seeking prior price references on which 'to presently attach.'
Falling below this price level this week, which is equivalent to about 130 on the SPY, would constitue and annual pivot occuring in the Dow Jones 30 Industrial Average.
DJX Most of 2011 and 2012 Daily Action OHLC
Another important factor to realize is that, if no pivot occurs in the weeks ahead, a strong 'launch price in the annual echovector will forms. This occurs as the Annual Echovector Calendar Coordinated EchoBackWeek becomes significantly lower with respect to its corresponding present week this calendar year. When this occurs, it starts to effectively place upward echovector buy-pressure on prices going forward in the near-term.
So watch these next few weeks closely.