The next few bars should resolve the situation, either higher with a reversal LONG, or lower with a continuation of the current SHORT.
A
Wednesday, July 21, 2010
DJIA_240 Trend Model
Here is a follow-up of the DJIA_240 Trend Model posted earlier. Note that prices have rebounded right to the trend line and as such are at resistance.
The next few bars should resolve the situation, either higher with a reversal LONG, or lower with a continuation of the current SHORT.
A
The next few bars should resolve the situation, either higher with a reversal LONG, or lower with a continuation of the current SHORT.
A
Subscribe to:
Post Comments (Atom)
11 comments:
fwiw....the last time, (about a month ago), Bernanke stated that the Fed "would do what it takes" to keep the economy on track....(basically what he said today)...
the market rallied hard....about 2 days thereafter....
just something to consider....
-Mike
-Mike
Allan, ATR 10250 hit today!! Is it time to reverse??
The market will not repeat 1932 per EW analysis. The mareket has been injected with cash, it will take alot longer to play out. 2013 or 2014 should be the crash years!
Just my opinion
nice market action...
where's that dime?, (turn on it)
thanks Allan!
-Mike
http://www.youtube.com/watch?v=TKtURqCt-JQ
is it about time for a dead cat bounce at least for nnvc?
its got to be close to oversold by now
Anyone here see where NNVC will go?
i can not read the charts that well?
will we see 1.00... or lower?
This hurts!
.....more food for thought
Bernanke's statement sent the market plunging. Then...China made a statement about reenergizing the real estate market and .....Presto....commodities soared,thru today.
what I take from this is that CHINA has demonstrated that it is a major league player now...like the fed chairmen and central bank presidents, etc...when they make a statement the market moves big....now china blows its nose and they can move markets.
THIS ia a very big development.
A while ago when the euro market and the euro were tanking...and China came to the rescue with a statement about holding up its euro reserves, etc.... Presto... the euro market and the euro gets a stick save and a boost up.
when China tells its citizens to invest in gold and silver,and real estate, it is moving global markets.
Itwill function not just as an economic power with a hand in controling markets....but can act as a geo political counter power to the USA/central bank/BIS/new world order, etc....and thgis is a very good thing for the world.
whatever nefarious plans the western new world order has to pillage and destroy the world while trying to dominate and control it all...china and russia can stop their insanity, with some semblance of counter balancing power....hopefully.
NNVC is killing me ...
"The market will not repeat 1932 per EW analysis. The mareket has been injected with cash, it will take alot longer to play out. 2013 or 2014 should be the crash years!"
I don't know that the facade can be maintained as long as 2013 or 2014. After all, the problem comes down to the banks insolvency, the real estate problem, and government debt. All three of those problems have different length fuses that are lit. Government meddling buys them some time but it also tightens the noose. If they had limitless power, we would have bought our way out of this already.
I do agree that this meddling messes up wave counts and can sucker us in.
China: All the big players seem to be playing ball in keeping each other's markets and currencies afloat. "Tag, you're it" and the Euro rallies.
Smiddy
Thats right smiddy ....but it feels to me like 2013 is a very far distance away,with the pace of market volatility,geopolitical aggression among nations,as they play out their power struggles, I cant imagine peaceful cooperation lasting another whole year without some kind of global crisis. heck, even the gulf of mexico disaster could send huge toxic fumes of gas and oil into the atmosphere when the hurricanes start passing through in the coming weeks .
But for the economic chess tournament, I think you can see the relationship between global powers as it plays out....in recent weeks and months, there seems to be a cooperation between the USA,Europe, and China...to support each others economies and even to get their respective markets to dovetail . China seems to be the leading market as an indicator, a week or more ahead . China has turned the corner in the last few weeks,looks like the shanghai composite has bottomed.
What I like about China is that their government is utilizing its vast population of citizens as a supportive force of economic power in ways that strengthen Both its people and the government. Unlike the USA which is just using,abusing, and burdening its citizens squeezing the life and money and hopes and dreams out of its citizens, diminishing the quality of americans life, exactly the opposite of what china is doing. American citizens are disempowered,while our government turns fascist and does whatever it wants for the benefit of the elite powers in control...while china is moving forward stronger as a nation, an economy and a global power by including its common people in the evolving process.
No wonder the china civilization has had a continuous history that stretches 6 thousand years,while the American empire has devolved and moves toward collapse after 200 years.
I dont love china or any country. But one cant help notice that when it comes to its evolution and forward progress, China is not leaving its people worse off, it understands the power that exists in having a billion people on its team.
If there was a world war, how many chinese soldiers would there be? maybe...you know, 250 million?? marching against a US force of 200 thousand?
but first of course,china would implode the dollar and the US markets. that would take about a minute.
Well, so anyway, no economic sabotage lately with contaminated pet food,tungsten gold bars, and bad baby formula...theyve been cooperating to keep the markets alive,at least for now.
But of course,all that will stop immediately if somebody bombs Iran.
The minute any major warfare suddenly begins ...that will be the start of the great wave 3 collapse Allan's waiting for.
http://en.wikipedia.org/wiki/Keep_it_simple_stupid
-Mike
http://www.youtube.com/watch?v=unaBWf6-dOM
Post a Comment