This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Wednesday, 14 August 2013
2 charts from Eugene Shen's public list.(pitchforks) For his Dow view to be correct we first have to punch through 15625 resistance area I showed yesterday
Re: DOW 16800 target. I think at this stage the most plausible scenario is a small dip/correction that scares everyone and then possibly a Q4 rally that takes it to that level (if that target was to happen).
Just look back in mid-2007 as it hit 14000. It proceeded to drop 1500 points within two months and then rallied to a higher high near 14200!
Re: DOW 16800 target.
ReplyDeleteI think at this stage the most plausible scenario is a small dip/correction that scares everyone and then possibly a Q4 rally that takes it to that level (if that target was to happen).
Just look back in mid-2007 as it hit 14000. It proceeded to drop 1500 points within two months and then rallied to a higher high near 14200!