Dow DEFINITELY looks good to 9000

Quote from Jesse J.:

and I am not looking for dow 9000 anymore.

very limited upside from here.

there is a good possibilty of a correction soon.


:mad: :)
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Whats the matter, did you drop your crystall ball and break it?


Plueeezzzeeeeeee!
 
Recently, P/C ratio quickly gets very pessimistic once any selling pops up. This might have the effect of delaying further selling.
 
Will somebody please shoot this market so it will play dead for at least a few days?

Or, at least teach it to roll over?
 
Quote from Jesse J.:

Be SPECIFIC babak, about your market drop theory.

No one respects someone saying "it will drop", and who continues to say it as the market rallies.

Tell us WHEN it will drop.

Now there's a novel idea.
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Jesse,

I am with you on this. If the majority feels that the markets will continue downward I will go against it. Once again I am a broker and I know the turn around on traders (just telling it like I see it)so I will go with the minority. The post war rally will continue and thats that.

comp
 
Your persistency is amusing me :)
I am rewriting a second version of my guide since the first one was very laconic and abstract. I have to put some illustrations first then I will explain.

Quote from Babak:

Harry you said:


Could you please tell me what the graph is and what it is showing? I know that to you it is as familiar as the layout of your house but I haven't the foggiest idea what those numbers, colours and lines mean. Thanks in advance :)
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<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=251390>


We have just passed below the blue line (whose first pic is at 8576) on weekly scale which is the path of consolidation. The usual target is the dual of max target that is to say 8416 theorically. After that it is possible to see if Bulls can take control again and target the max potential of 8866.


Quote from harrytrader:

If you just lose your reputation it will be ok :D

Well well well without any extensive analysis than by looking at my monthly chart I would first wait for the break and before any break it should consolidate and after consolidating perhaps he would be willing to follow the descent path that is showing :D.

<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=249968>
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I forgot we were already Friday and as so there is no much time left to do the target. Each Friday one must look at target calculated at last week close : last week's close calculation give a consolidation of 8449: to be conservative one must take this one for profit taking rather than the above at 8416 (because this one could be done at the beginning of next week or at best at the end of the session).

<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=251805>

Quote from harrytrader:

<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=251390>


We have just passed below the blue line (whose first pic is at 8576) on weekly scale which is the path of consolidation. The usual target is the dual of max target that is to say 8416 theorically. After that it is possible to see if Bulls can take control again and target the max potential of 8866.
More...
 

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