Prof Boner don't be intimidated by deadbrokey. I'll protect you. -------------------- S&P500 weekly chart shows a rising wedge enclosed within a megaphone top. Be careful folks, the naughty Black Swans want to party... stockmarket618.wordpress.com/2011/06/01/wed-june-1
Hanging around at ET is detrimental to one's exterior point of view aka the zoomout view. I need a clear head to revisit the magnificent Dow Jones on the Yearly/Quarterly/Monthly to see if there are any flaws in my thought-ing So manana I'm going back to biblical times circa 1790 - wish I could splice the even earlier British prices in a more efficient way so I get some continuity, but that's wishful thinking. What I know from an overview of the 1700s was the huge DEPRESSION in that period and that was WAVE 2 Supercycle or Grandsupercycle. More on a clear head.
Yeah, unfortunately people have no idea what's ahead. It will be worse than 1929. ------------------------------- More USD sell pressure / equity buy support and basing. (ie bullish for stocks) Bearish bigger picture wonât change though.
No doubt about it - the bearish euro daily chart is increasingly influential over smaller time frames - thus USD strength continues.
The mighty DOW JONES taken apart: Dow Jones DAILY timeframe, June 14, 2011 WE shall NOT include Wave Analysis for the time being and go to battle with straight, simple TA .... The DAILY TREND is still UP, UP, UP. Long trendriders are snoring and sound asleep, knowing that there will be the inevitable upwave. Why are trendriders unconcerned? (1) The March 16 low still holding firm. (2) The 200-day m.a. still unmolested. (3) DOW THEORY has no trend violation as of today The only factor upsetting this confirmed continued uptrend is that there is a TRENDLINE broken. But is this trendline a significant one, or is Price simply trying to settle down and form yet another basing point, therefore another trendline anchor point and then CONTINUE northbound? Price could be simply trying to go to the lower channel line shown, sort of like a Pitchfork phenomenon. Is there a right shoulder going to be formed after the HEAD touches the shoulders? There ought to be some sort of TOPPING PHENOMENON, right? The rally from the March 2009 lows was and is significant, so there should be some topping phenomenon - or is that May top a V-shaped topping phenomenon? Then again we could wait for CNBC and John Murphy who would rather have the 50 m.a. cross below the 200 for there to be a Top call. So, one can easily see that there is a lot to consider .... ------------------------------------ Therefore the dead one considers only the March 16, 2011 low as the arbiter. And said low is still holding firm. The DAILY TREND player is still LONG and is snoring, snoring, snoring. What would he be looking for? To see how secure that March 16 low really is. Then he'd be looking for the inevitable upwave to see if it can exceed the top, in whch case the LONG rider will go back to sleep. If it cannot take out the top but instead drops like a stone and takes out the March 16 low by 3 bars that do not touch the low of the March 16 candle, its over - that's all she wrote and the trendrider is outtta there with a closed LONG
Correctly alerted and warned. A perfect touchdown. Another magnificent call by the dead one. The dead one delivers another freebie to Retard Central. Let's see if even a single one of the ET sponsors could deliver such? Oh, say what? They trade only on the 3-min. timeframe. next thing I'm working on is ...... I still would like to see how this rally develops in order to be sure that the latest steeper decline on 1H is NOT a FIFTH WAVE simply subdividing. But this we will only know if the current rally fails and the support is taken out pronto. Uploaded with ImageShack.us
No doubt, you nailed that bitch to the floorboards. Congratulations from someone other than yourself to yourself !