Ok now that the clowns have been cleaned from the thread I will show the chart: The dow is just sitting on the VERY BIG SCALE OF REVERSING THE MID-TERM TREND at 10126 theorically. The blue line means we are entering CONSOLIDATION. You know what it means to trade consolidation : WHIPSAW (for daily trader for daytrader it's fun on the contrary) . <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=494732>
In fact it has even closed below but this is not significant as it is just one close: normally two closes are necessary. So it is very dangerous to sell above as a reaction rally can occur.
for now? Does that help you bgp now that you have THE number 10126? I don't trade the DOW so I can't comment. The S&P closed on the bottom and if memory serves me, isn't there often follow thru on monday after a down day on friday? So this is a bold prediction from you then Harrytrader? CONSOLIDATION. So the only question remains: are you buying off your line at 10126 since you said selling was dangerous? Take a stand on your position for bgp or your colorful analytics remain clear as mud.
be patient on monday close harry will show us a circles with high and low for the day otherwise you are blind and stupid.
thank you Mr HarryTrader you truely are appreciated and all the hard work you do.... You are helping traders such as myself, who have the highest respect for you and your efforts, attain a completely unbiased look at the marketplace. I thank you kind sir, and so does my trading account. Please ignore people on this board who it seems unfortunately are just jealous of your long proven success.
This is scale 4 that is to say Monthly. What happened during intraday doesn't matter on that scale. That's why I said one must wait for close. In fact generally when market arrives at scale 4 more often than not it will make a big down intraday before reversing above to shake the so-called weak-hands. I didn't give intraday because it is reserved for paid members and it is not authorised to make advertisement for that so I didn't mention it. Exceptionaly I will give them if requested by NON-PIGS. >"are you buying off your line at 10126 since you said selling was dangerous" Since I said one must wait close it means what it means: Do nothing until confirmation. Don't you know that most of the time trading consists into doing nothing but wait ? As for me I'm daytrader I don't trade that scale. I can sell and buy.
What a coïncidence that it is at crucial market's moment that you have such big news as nuclear threat from al kaeda... http://story.news.yahoo.com/news?tm...cagotrib/expertsfeardirtybombattackinuseurope
Exactly one year after the same declaration of Buffet of a 100%probability of nuclear attack by terrorists: http://www.elitetrader.com/vb/showthread.php?s=&threadid=32144&perpage=6&pagenumber=5 Why do they frighten people like that ? It's complete nonsense to create a panic !
nor do I intend to. I find his charts "interesting" but of no use to me as I prefer my own analysis which I understand. I can't make heads or tails from his charts because they are HIS charts. I do admire him also for his original thinking and agree that he should NOT be attacked by anyone whether he posts timely or not. That's his decision.