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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, 18 March 2012

Dow

The Dow made a small inverted hammer reversal pattern Friday.It made a new high and closed below Thursday's low.We broke through the Gann resistance levels ,which is bullish,but it is still possible to regard this as a bearish rising wedge.Bulls need to see a HL confirming the breakout,bears need to see a break back below resistance (False break pattern) Next week is 90 days from the Dec low (a minor cycle) and Spring Equinox,suggesting a possible turn on Monday or Tuesday.the nature of any pullback will be very important in determining the next move.Sentiment seems very bullish now,with even bears predicting higher prices.


1 comment:

  1. Yeah, even bears predicting higher prices, sign of a top.lol
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    I would think the greek bond interest payment will give the algo-bots the excuse to whack this nonsense up another 3% or so.

    Urghh

    ReplyDelete