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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Saturday, 20 August 2011

Dax future

Friday's candle was not a reversal so even though we may be in a 5th,looks like the decline not done yet.Watch for a reversal candle followed by a cross of the 5 dema and 10 dsma (this was a good short entry back in July,as posted at the time) The weekly looks really ugly.We are 15 weeks from the high and 6 weeks from the lower top,so another 6-7 weeks decline is entirely possible (fib 21 and Gann 90 cd would cluster there) An October low would have good seasonality.Germany is in the eye of the storm so I think it is a key market to watch

 


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