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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


Friday, 2 April 2010

Dax





The Dax closed strong on Friday,with an upside gap.We are marginally above important resistance levels (idealised wave 5 target and matching range target and 0.707% retracements which were basically clustered around 6215 and 6223 on the cash index)
There is a potential Gann squaring with the market up 271 days and 2710 points would be 6299 (again,cash index,actual chart is nearest future as I cannot get cash data on my software)In addition we are just below a crossing of 3 angles.Crossings often mark pivots.I still believe the rally looks corrective and is on borrowed time.Volume has declined as the market rose from the Feb low.Nevertheless the trend is up until we get a reversal

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