Dow Monthly Shooting Star?

Discussion in 'Trading' started by inandlong, Jun 30, 2003.

  2. ya know ya big ballin' when you look at a monthly chart ! :D :D
  3. naaah... just too slow to daytrade, too dumb to think it through in a few seconds, and too lazy to work harder.

  4. range


    The indices' chart for June is beginning to look like a head and shoulders pattern to me.
  5. bobcathy1

    bobcathy1 Guest

    I looked at the Dow and yup it looks like a shooting star. Good rule of thumb is that the tail be at least 2 times as long as the body. On YM it looks like an evening star, but there is very little data to support in on a monthly chart since YM is so new.
    Hmmmm....I am pretty slow on the uptake and I daytrade ok. Maybe you just have better things to do than stare at a computer all day?
  6. No I stare at the charts all day too. And lately try to keep the peace on the mrmarket threads. :(
  7. use a yearly chart!

    Yeah, looks like she started forming a rising wedge back in '46 -- I'm expecting another breakout in 2041 (but then I want to see it pull back to the pivot-point again to rule out any "bogus signals!").

  8. LOL! Sometimes I think I might as well be in real estate!

    I know for many, many of the members the monthly chart is meaningless. But the big money that actually makes the market trend looks at it. And all I want to do is ride the wave.

  9. PetaDollar

    PetaDollar Moderator

    There is no hammer. Nearly a shooting star...

    .. similiar candle to the last two tops ...
  10. Right you are peter'. Watch this! One of the nice things about being a moderator is about to occur. But I'll leave my original in your quote so as not to completely cover my error.

    Thanks for the chart and the correction. :)
    #10     Jun 30, 2003