Doesn't anyone remember 2000?

Quote from scriabinop23:

lots of pretty colors on your tea leaves.

wooo...
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LOL. Easily distracted?
Any comments or thoughts on the analysis or just liking the colors? :p
 
2cxag6s.jpg

I've added some more volume by price support lines and updated the chart.
To me this shows the volume and where the majority entered the market after the Y2K bear. Almost 2 years of consolidation setting up the bear to bull transition. No doubt about it...this is THE key price pocket. Volume = market sentiment and it's staring us in the face. Now the question is do the big money players have chips on the table still, if so they support that line...if not they let it tank through and get in MUCH below that pocket of support.
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The above I posted on the web on Jan. 23rd.
The levels I posted back then are coming up. 11,700 remains the most important level I can see. If we stay above that, the point of control is upheld and long term investors will hold albeit with a load of steamy crap in their pants at this point. If we break below there with conviction (especially close below) I'd look for massive bloodshed to accompany the crap in the pants.
I'm looking at that volume pocket as a fault line, if we break that open it's going to be like an earthquake when we have plate shifting at the earths core.

2008.07.12-DJI-Weekly.jpg

Here's an updated chart. In bell curve terms this is a chance to revert and test the MEAN. This testing is something the market does all the time on different timeframes. It's how value is probed in a 2 way auction. Goes higher, no interest...revert to the mean and see if there's interest. If there's no interest there it goes lower till there is no interest and then back to the mean. From the mean any direction could be tested FWIW, including chopping around and coiling at that section of price. My signature sums up how I feel about market movements. :)

All JMHO
 
Quote from athlonmank8:

Oh wait, few of you guys were around during that period. You only got the perma -bull half. Now it's time for the real fun. Losing. It's time for the longs to grab some popcorn because now the market's going to teach you how to REALLY invest.

Now let me update you on what happened.

Prices decline over the summer. Everyone wondered what the hell happened and no big deal.

Then WACK. We got nailed. Just like today.

The same scenario is playing out EXACTLY like 2000. Those of you who were around and were in techs remember it well.

Those of you who are long and simply too dumb to sell....will learn the hard way.

Remember, investing comes with experience. It now begins.
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Another good one
 
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