Dow Jones Ind Av

[dumbass]

I still think this is a bear market rally which has just completed or is close to doing so.
currently short on sp 500 from 1030 , with stop moved to 1027.
here is a volume analysis which confirms my thinking that this is a bear market rally.
every leg down of this bear market has been on increasing volume and every rally has been on diminishing volume and the latest rally is no different.

[peat]

i agree with Ananda77 in the other thread on Dow/SP500 that 1070 is now the critical area.

[Dr_Who]

Peat, are you saying the market is due for a correction?

Seriously, I cant read charts very well, they all look like Japanese to me.

[peat]

probably one soon ??
but a breakthrough 1070 on th SP500 puts it on hold as that is a resistance area imo

[dumbass]

nice elliot count evolving on hourlies.

There is by the looks of things a completed third wave down which may correct from here in a fourth wave before moving lower to complete first intermediate wave of this major C wave.
42 + points from double position.

[peat]

there was indeed a bit of “fright” in traders, as we approach the spooky

weekend

nice quote

[dumbass]

this is the example i was talking about peat compared to my chart.
sloppy technical work from the so called experts.








anyway sell your house and short the sp 500

[arco]

Also put this on the S&P thread

Looks like 3 drives to a top, or H&S pattern forming

[dumbass]

arco , there is a h1 open market gap at 1084, if it gets that far.

[dumbass]

patiently waited for this pattern to unfold and if that was indeed the end of wave B then its down hill all the way to retest the bear market lows. GULP !

ridiculous as it may seem, on no particular news in a very bullish enviroment but thats what bear markets feed on .

and the USD will continue to rally , ? its a strange world