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Old Apr 14th, 2012, 10:56 AM   #7
trade4ever2day
 
 
Join Date: Nov 2007
Posts: 274
See this nasty inv. h&S developing in DJ30 http://t.co/UdqZAipy
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Old Apr 14th, 2012, 11:10 AM   #8
lwlee
 
 
Join Date: Dec 1999
Location: New York, NY, USA
Posts: 1,207
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:
Quote from alexandermerwe:

See this nasty inv. h&S developing in DJ30 http://t.co/UdqZAipy
    Quote
Old Apr 14th, 2012, 11:53 AM   #9
d08
 
 
Join Date: Aug 2008
Location: New EU
Posts: 1,560
Quote:
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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Old Apr 14th, 2012, 02:30 PM   #10
trade4ever2day
 
 
Join Date: Nov 2007
Posts: 274
Quote:
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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Old Apr 14th, 2012, 06:18 PM   #11
tenthousandmen
 
 
Join Date: Dec 2011
Location: Silicon Valley California, St. Petersberg Florida, Sydney Austrailia
Posts: 728
Quote:
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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Old Apr 14th, 2012, 09:07 PM   #12
Eight
 
 
Join Date: Mar 2009
Posts: 3,580
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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