Classical TA shows a measured move for the DOW another leg down. I don't have my charts up as I write this, but if you project the next leg down equal to the last leg, it will bring it almost exactly to a major resistance point last year. Same for Nasdaq. It almost seems to perfect of a setup, but I have to go with that analysis until I see otherwise.
Um thats why its a mni-crash. It was just a SINGLE day of profit taking. ONe big sellign day and then all upside afterwards. Thats what I said Feb 28th and that seems to be the case now.
dear stock_trad3r if you actually trade real money you are a goner let me guess, you are one of those longer term swingers it will take 10 years for guys like you to learn that you can't trade I know nothing about you so if I am wrong sorry
========================= DIA on 20 day chart =down SPY on 20 day chart =down QQQQ on 20 day chart -=down QQQQ on 7year chart =down & still down from midpoint QQQQ direction of 50 day moving average=down[past20 days], like polar bear. QQQQ sell volume better than buy volume, last 20 or30 days Looks like 1st quarter selling has already started ,on QQQQ; not a prediction. Weekly charts are up[dia,spy,qqqq] however, as are 200dma; looks polar bearish this week-not a prediction. Plans of the diligent tend only to advantage- Solomon,trader king
Not much news today except housing, I think the bigger news comes later in the week so today may be a little boring..
Bernanke is speaking this week as well, so expect the markets to go up!!!! :eek: :eek: :eek: :eek: :eek: