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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, 22 January 2012

The top chart just shows the upper bollinger band and the 21dwma..We closed above the bollinger line
On the lower chart the Dow (nearest futures) has Friday's bar completely above the 3 dma offset1 day,which happens rarely and usually leads to at least a short term correction.We are 180 degrees (6 months from Jan 21 high) so a possible high to high cycle
My feeling is we should start a correction early this week,at least back to the lower bollinger line




here is an older chart.....we are approaching these resistance levels again




Posted by at

6 comments:

  1. Albertarocks22 January 2012 at 21:37

    I've got a new one for ya buddy. I apologize for scaring you the other day, lol. This one should make up for that unfortunate accident in spades:
    http://albertarocks-ta-discussions.blogspot.com/2012/01/demise-of-khrysos.html

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  2. Chartrambler23 January 2012 at 01:11

    Nice charts AR.I think we will correct down this week off the 6 month cycle.The bollinger line piercing was a nice entry signal.The strength of the decline should give us a clue what happens next but I'm thinking we may have to wait till Feb/March before it gets exciting

    ReplyDelete
  3. Albertarocks24 January 2012 at 16:33

    Test. I just want to make sure my avatar still works here. Danno deleted one of my comments and now my avatar is gone from his site. He's getting to become a real asshole himself in my humble opinion. Other opinions may vary.

    ReplyDelete
  4. Albertarocks24 January 2012 at 16:41

    He must have read this. The avatar has been restored. But man is my fuse getting short with that zoo.

    ReplyDelete
  5. Chartrambler24 January 2012 at 16:46

    LOL...I know what you mean ....can't see why Danno would delete your comments and let the idiots through though ?

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  6. Albertarocks25 January 2012 at 06:44

    Well in that one I said FU to FAISAL for commenting about my mother. He wouldn't still be standing vertical had he said what he said to my face. So maybe I went off a bit too strongly for even Danno's liking. I dunno man, I just don't understand that guy. His site is becoming famous within the blog world for all the wrong reasons and he just doesn't seem to care. Still, there are other reasons why I respect him. It's a mad, mad, mad, mad world.

    ReplyDelete

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