A veteran technician suggests why these three charts could signal a 5% pullback

On CNBC’s “Futures Now” Thursday the managing director of Louise Yamada Advisors said there are three charts that show how the post-election rally has gone “a little too far, too fast.” According to Yamada, the Dow Jones Industrial Average is in a “sideways consolidation” that could signal “a pullback of about 5 or 6 percent.” Her chart of the Dow shows that the index has traded in a range of about 1.

A veteran technician suggests why these three charts could signal a 5% pullback