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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


Sunday, 11 April 2010

Dax





This week's candle was a doji,occurring 56 weeks from the low (fib 55).With the market at a strong resistance line from previous highs and lows from the last 3 years.There is strong resistance at 6286-6300 on the daily chart (june future)and resistance from the rising wedge upper trendline.I have marked this rally as the likely head of a possible head and shoulders pattern.We need to close below the low of the weekly doji for first signs of a possible trend change.The s&p had a bullish white candle and is below ideal resitance levels of 1200-1220 that elliott wave people are talking about,so could drag markets higher,but the put/call ratio is at nosebleed levels.

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