Yes, very interesting. Might need another 0.75% and another day to confim the change, and then is it up or sideways from here. Breaking out up is less telling than breaking through the 2580 support.
Yes, very interesting. Might need another 0.75% and another day to confim the change, and then is it up or sideways from here. Breaking out up is less telling than breaking through the 2580 support.
got the continuation last night , like you say time will tell if it turns into a bigger sideways range or charges on to new highs.
Phase II may be called the Mark-Up Phase. It occurs as the improved tone of business and rising price action begin to attract public and institutional attention. This second phase is the longest phase and most deceptive of the three phases.
If we in phase 2 30000 dow not unrealistic , actually if you look at a very long term us dollar chart we may have hit the cyclical top around 103 and would suggest all downhill now so bull market will get tail wind of weak dollar earnings amped going forward
was saying nearly a year ago 30000 dow not unrealistic and today we may be setting up for it.
If you consider we are in a range trade at the moment , the intraday chart top was 26616 and the low was 23360 which has been retested a few times now so could be considered the base of the range.
If you subtract the difference 26616 - 23360 = 3256 then add it to the high point of 26616 it would equal a measured move to 29872 pretty damn close to our original thinking of 30000 .... pretty spooky a. we wait an see what happens.
Doesn't bode well for the general market going from recent history
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Originally Posted by root
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