Surf used to tell me to find a job a lot to, he used to assume an individual was a failed trader, poor and unemployed, if one simply disagreed with him, in between his CALLING OF THE TOPS, of course.
Don't worry Sheda, I try to leave judgment to God, I'm just a MAN, an ancient race, soon other Surfs will be along and they'll kill it off. My remark is based on the fact that a perennially angry man is neither making any money, worse still, losing money nor getting any of the soft stuff.
My remark is based on the fact that those declaring doom, are more often than not, full of shit, rarely making money, and perhaps, more interested in a following because who knows? Maybe they are not getting any of the soft stuff..Yet there is no anger there...I love reading well reasoned thought out points of view concerning the market, even if those points of view do not come to pass in reality, just not so keen on those dailymail styled headlines and hype
hmmmm , usually that doom posts make me laugh .. but after reviewing the situation in the dow .. i must say it does look quite bearish .. as of now .. which btw. doesent mean .. that we are headinginto a great depress.. but never the less nice call on the 25th of july ... with a great shorting opportunity @ the break of the 29th bars low... D1 a short opp . may arise as seen on H1 chart
Dow Jones monthly timeframe uptrendline BROKEN this month (August 2014) See chart - monthly timeframe for powerful supports that will come into play. The 2009 will be taken out so let's look at others support candidates: We will go to the Target Box shown - 2000 to 4000 @ approx. 5400 is the uptrendline from the Great Depression 1 = rally here for sure @ approx. 4,000 level is the 1994 support & Fibo 78.6% @ approx. 2777 level is the 1987 crash top support @ aprox. 2,050 is the 88.3% Fibo level
I favor the Target Box 2000-4000 but the uptrendline from the Great Depression 1 could arrest the drop. Its at around 5150 now but its a rising line so don't know where it will meet Price.