Dow About to Break Out?
- Thread starter Corso482
- Start date
One bull correction until tax day coming up. We gotta do something to get some more lewt in this market, and this is it. A bit after Valentine's, the main stream press will be saying the bear is dead, and it's safe to put all your money into the stock market. That will last just long enough to sucker in every drop from the 2002 Roth's (last contribution is in the middle of April). Then we tank again. And the average investor takes it from behind again. Anybody surprised?
Just me humble opinion, of course. *I'm* certainly not going to bet the farm on the above scenario, and you shouldn't either.
Just me humble opinion, of course. *I'm* certainly not going to bet the farm on the above scenario, and you shouldn't either.
TGregg, that is another nice potential scenario. Good thoughts.
These kinds of color commentary make TA so fun. You check out the charts, you make your play, and then when your short the company comes out with bad news.
I liken it to the X's and O's on the play diagram. Does the offensive coordinator know that Randy Moss is going to make the one-handed fingertip snag in the endzone? No! But the play was executed and after that, who knows what is going to fill in the rest.
These kinds of color commentary make TA so fun. You check out the charts, you make your play, and then when your short the company comes out with bad news.
I liken it to the X's and O's on the play diagram. Does the offensive coordinator know that Randy Moss is going to make the one-handed fingertip snag in the endzone? No! But the play was executed and after that, who knows what is going to fill in the rest.
Quote from Corso482:
My swing trading system first establishes either a bullish or bearish bias for the Dow, then selects longs or shorts accordingly. I don't actually trade the Dow itself, so it doesn't really matter what happens with this triangle pattern. Anyway, if the Dow really broke down my bias would then switch to bearish and i would take up short positions.
Let me guess the reason why you look at the Dow instead of the S&P500: Because it's the bellwether!
That's what I thought.
The resistance is getting thicker and thicker, and with all the Geopolitical worries, it is hard to imagine it going there on it's own.
Earning season started with AA on a bad note. INTC is not much better.
Predicting is a bad business to be in, but I vote no breakout and very range bound volatile trading that is exciting on open + 1 hour and close - 30 minutes, and boring the rest of the time.
nitro
Earning season started with AA on a bad note. INTC is not much better.
Predicting is a bad business to be in, but I vote no breakout and very range bound volatile trading that is exciting on open + 1 hour and close - 30 minutes, and boring the rest of the time.
nitro