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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

Wednesday, 3 August 2011

DOW - looks like top is in

We broke the 50x1 bull angle and have 3 tops in place,which suggests to me the bull trend is finished.To rescue this they need to rally the market soon and regain the 200 dma,which though not impossible,seems long odds.The S&P broke the 1x1 from 666 on the daily chart yesterday,too,a very significant development.


 



 



This is a close up of yesterday,s chart showing 4 repeating ranges in the Dow.I had thought that fractal would support prices for a bounce (and LH) but in the event we sliced right through support


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