.

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
.


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


Friday, 5 October 2012

Dow 13680 resistance


Of interest is the fact that 7200 (2 x 3600) points off the 6470 low is 13670.

The first weekly range in the bull market was 6470 - 8878 =  2408   (2/3 x 3600=2400)

3 times the base target is 2408 x 3 = 7224 + 6470 = 13694

So,3 reasons for resistance in 13666-13694 area  We can average these to get 13680

Here is another observation,chart posted by Joy Division at Daneric's

 

2 comments:

  1. Close enough for a government job. We shall see. nitram http://stockcharts.com/freecharts/gallery.html?$INDU

    ReplyDelete
  2. Hi Nitram,yes it seems a strong enough resistance level to at least warrant a pulback

    ReplyDelete