the eternal Dow....
I.
The Dow that can be named
is not the eternal Dow
It is the industrial average
The wise investor does nothing
content to observe the Dow as it rises and falls
Oversharpen the blade and the edge will soon blunt
Amass a basket of biotech startups
and nothing can protect you
Saw this a couple of years ago and thought it was appropriate. (See the rest at: The Tao of the Dow). The Elliot Wave Crowd has been predicting a crash for years now. (not saying the linked article is Elliot wave based) I recall reading some of their stuff when the index was at 9400, and they were all in a panic over the patterns of the curves, awaiting their big peak. Someday, they may be right.
While reading charts is useful, don't forget the disclaimer: "Past performance is not an indicator of future returns."