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trade4ever2day

Registered: Nov 2007
Posts: 274

04-14-12 03:56 PM

See this nasty inv. h&S developing in DJ30 http://t.co/UdqZAipy

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lwlee

Registered: Dec 1999
Posts: 1103

04-14-12 04:10 PM

Interesting chart. Seems to portend more downward action.

Look at a similar setup on the chart in the Nov timeframe. Triple top then a descent in Dec below 11400 before it rebounds to the 2012 new highs.

Quote from alexandermerwe:

See this nasty inv. h&S developing in DJ30 http://t.co/UdqZAipy

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d08

Registered: Aug 2008
Posts: 1369

04-14-12 04:53 PM

Quote from alexandermerwe:

See this nasty inv. h&S developing in DJ30 http://t.co/UdqZAipy

I can only see a possible regular h&s there.
But it doesn't look right, for DIA the volume isn't declining (as it should for a good h&s). Triple top as head and the declining neckline aren't confirming either.
I'm very bullish for the whole year.

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trade4ever2day

Registered: Nov 2007
Posts: 274

04-14-12 07:30 PM

Quote from d08:

I can only see a possible regular h&s there.

You are correct it is a regular one.

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tenthousandmen

Registered: Dec 2011
Posts: 728

04-14-12 11:18 PM

Quote from piezoe:

The mistake you're making is to think the market is rational or perhaps that it is not really manipulated by a collection of liars cheats and thieves (otherwise affectionately referred to as Goldman Sachs).

This is an election year, therefore why wouldn't the market go to the moon before the Tuesday after the first Monday in November???

I'm talking about the fact that volume leads price stupid

Cheers,

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Eight

Registered: Mar 2009
Posts: 3359

04-15-12 02:07 AM

Unless there is further QE I think this runup is over. The US dollar is losing it's reserve status and that portends not-good things for US economy..

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