My Market Analisys

Wow can you say head fake, this sucker is falling like a ton of bricks.

 

Been a steady rise all day long, AD opened strong and has stayed strong.

 

Dow may be setting up for a head and shoulder top, time will tell.

 

hahah.

every ascent after a dip/correction looks like a head and shoulder setup when its half recovered. not saying you'll be wrong. its just a 100% of the time it looks like this after a correction.

 

This is odd the AD line has not budged during this 90 drop.

 

1503 was a fib retracement number.
The rally terminated there and then the market resumed its decline.

The first leg down was 128 points.
Subtract 128 from 1503 and you get 1375

Take a .618 fib ratio of 128 and you get 79 points.

1503 - 79 = 1424

Two possible targets on the downside.
Good luck to all!

 

Quite a decent, maybe a bounce is in order back to 13250 or so, after that will just have to see.

I want to see what the breadth looks like on any advance, breadth has been 5-1 on the down side during this correction.

Nice divergence in place, tomorrow is Friday, hum.

 

Mymini,

Look at the green hammer at the end of the current downtrend on that chart.

Anek

 

Oh I see it, doesn't mean its the end of the down trend, it may bounce and fall further who knows.

 

Nobody knows but a 420+ point hammer at the end of the "current" downtrend with massive amount of volume (highest in years) is tempting

Anek