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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 September 2011

Dow support

this is the same chart posted just now but extended in time.I have added in 2 Gann res/supp levels - Low plus 50% (9705) and 50% retracement of the 2003-2011 range ( 9672). These cluster nicely with the 1x3
Also 75% of high kicks in at  9656

 


The 13,34 week ema alignment highlights the precarious position of the market.With the bear cross just above the shooting star reversal candle of 2 weeks ago it reinforces to me that this is a good level for stops on long-term position trade shorts ( not trading advice,technical observation)
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