Dow DEFINITELY looks good to 9000

It made a super top ten points above I'm angry because usually it's not so imprecise but rather 2/3 points. Today it reaches ten points of imprecision. Nevertheless I am able to estimate it since around the daily at 8733 on hourly scale there was a local maxima at line untitled Projection Max13 theorically at 8742.88. So I knew that the top we made at 8742 was on short term scale and so the burst above 8733 wouldn't last.

Projection Min12 : T= 73 - Base= 8524.52 - Proj= 8735.62
Projection 74 : T= 74 - Base= 8524.04 - Proj= 8737.48
Projection 75 : T= 75 - Base= 8523.50 - Proj= 8739.68
Projection 76 : T= 76 - Base= 8522.74 - Proj= 8740.73
Projection 77 : T= 77 - Base= 8521.93 - Proj= 8741.83
Projection 78 : T= 78 - Base= 8521.17 - Proj= 8742.76
Projection 79 : T= 79 - Base= 8520.36 - Proj= 8742.83
Projection Max13 : T= 80 - Base= 8519.40 - Proj= 8742.88
Projection 81 : T= 81 - Base= 8517.71 - Proj= 8740.58
Projection 82 : T= 82 - Base= 8515.70 - Proj= 8737.31
Projection 83 : T= 83 - Base= 8513.53 - Proj= 8733.38
Projection 84 : T= 84 - Base= 8511.43 - Proj= 8729.61
Projection 85 : T= 85 - Base= 8509.49 - Proj= 8726.34
Projection Min14 : T= 86 - Base= 8507.58 - Proj= 8725.33

 

I'm sure you make a call and stick to it, never changing your mind.

That's a good way to trade.

That's a GREAT way to lose ALL your money.

The best traders adapt to the situation at hand, and that's what I've done. You can change your mind on a dime, with this market, and that's really the best way to be profitable.

Anyway, I did call for DOW 9000, and then pulled back alittle at end of last week, no big deal. And now I confirm that I'm sure it will get there. This week.

I NEVER SAID 'SELL', I just became cautious for a day. What's the problem?

Don't tell me you want to argue this point as well...

 

Cheer up I will testify if you want

 

Actually, I never make calls. You, however, are not only intent on doing so but demand that you be admired for making them. So far, however, you've waffled around about targets, timeframes, direction. So what makes you so great?

If you had made your call two months ago, we might all stand around in rapt admiration. But making a call at the end of April that the averages will reach the tops of their trading ranges is hardly revealing of great insight or perception.

Why not make your "call" now on the extent and duration of your correction? And, of course, the date it is to begin.

 

Come on don't baffle someone for that. Why should he make a call two months ago if he is trading in very short term ? Personally I am not very interested by call 2 months ago although others can.

He has just an enthusiastic character I think.

 

you stuck your neck out for me, and I appreciate it.

You had me with your Einstein quotes.

And I appreciate your charts and explanations here. I'm a chart person myself. I still think the DOW will make 9000, though.

JJ

 

im going to make a bold claim and say we are going to reach around the area of 9200 and sell off, within the month of may...

 

>you stuck your neck out for me, and I appreciate it.
I'm well trained so it's easy

>You had me with your Einstein quotes.
It's Schopenhauer rather

>And I appreciate your charts and explanations here. I'm a chart >person myself. I still think the DOW will make 9000, though.

At the moment on very short term (hourly scale) the max potential I have is 8850.04
and since we are consolidating under 8733 there is no buy signal below the seed wave at 8750.62 which is the immediate projection above 8734.36 .

Projection 0 : T= 0 - Base= 8725.30
Base Max 1 : T= 1 - Base= 8734.36 - Proj= 8750.62
Projection 2 : T= 2 - Base= 8729.85 - Proj= 8773.90
Projection 3 : T= 3 - Base= 8723.57 - Proj= 8811.60
Projection 4 : T= 4 - Base= 8721.33 - Proj= 8832.55
Projection Max 1 : T= 5 - Base= 8714.02 - Proj= 8850.04
Projection 6 : T= 6 - Base= 8700.93 - Proj= 8849.85
Projection 7 : T= 7 - Base= 8686.80 - Proj= 8830.29
Projection 8 : T= 8 - Base= 8675.85 - Proj= 8810.68
Projection 9 : T= 9 - Base= 8665.91 - Proj= 8786.25
Projection 10 : T= 10 - Base= 8658.70 - Proj= 8771.05

 

This is what I call the barcolor normally it is for opening but it has also value after. It is INVARIANT STRUCTURE that is common to EVERY DAY market that is to say it is the backbone that never changes in STRUCTURE (not values of course) even in 1000 years past or future (joke ). It is particularly useful when market is in consolidation mode because consolidation is generally more difficult to analyse than when the market is trending.

<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=254043>

For example for today 8728 is the limit ending consolidation and so below 8728 buyers must still be carefull since the trend stays in consolidation mode. As you see we consolidated down to the light green barcolor (8656.45 in theory real low was 8653.55) which was the theorical limit for bullish trend to sustain.

P.S.: the value is for Spot market (it is marked future because it is normally for opening on french cac when designed originally. I didn't change anything and just applied to Dow Jones but it is for spot because globex is not extended very long like french market).

 

yesterday some trading system has flashed a sell on daily scale at 8603 (because on bearish gap opening) and they have been trapped by the bullshit trend. They are still hanging on with a stop as high as 8900 and so we should at least return to their sell level or they will have to cut their loss