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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

Tuesday, 29 November 2011

Dow

I am thinking we test the neckline soon then bounce.34 wma should contain any rally,neckline breaks early in the New Year....still the market doesnt always do what I think...lol

 
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3 comments:

  1. Anonymous29 November 2011 at 14:31

    pullback ? I think market went down.
    bounce ? Doesn't a bounce go up ?
    On one chart the neckline slopes down from left to right. On another chart there are two red lines, both sloping up. Which one is the neckline?
    I'm would ask for some consistency in language usage. Rejected at resistance as an index kissed back to what used to be support. I though that is what the gray chart depicts. This blue chart ? No idea, but thanks anyway for all good finds. Usually it's not so confusing,

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  2. Chartrambler29 November 2011 at 23:23

    sorry...in above chart "neckline" means the lower t/l.I anticipate move down toward this neckline,then bounce ,then decline that breaks neckline,but as i say market doesnt always oblige !

    ReplyDelete
  3. Chartrambler29 November 2011 at 23:26

    in the FTSE chart we went down and then had a pullback to "kiss" the neckline which I am anticipating as resistance

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