ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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OK, let's make some predictions here:
I think we bottomed today. On the daily chart we just finished a formation I call "dragon". (yes, I know, me and my chartpatterns)
It is like a doublebottom formation, but the 2nd half of the W gets cut in half and drops app. the same amount as the height of the W is. So it is basicly a failed double bottom pattern, making one more low...
On the DJX chart the height of the W is about 700 points, between 10750-11450ish. If we subtract 700 points from the Friday close (the halfway of the W) we get 10450 and we went below today and bounced back.
Also they are going to vote on the bail out more times and eventually they will pass it, so I say we go up from here...
I think we bottomed today. On the daily chart we just finished a formation I call "dragon". (yes, I know, me and my chartpatterns)
It is like a doublebottom formation, but the 2nd half of the W gets cut in half and drops app. the same amount as the height of the W is. So it is basicly a failed double bottom pattern, making one more low...
On the DJX chart the height of the W is about 700 points, between 10750-11450ish. If we subtract 700 points from the Friday close (the halfway of the W) we get 10450 and we went below today and bounced back.
Also they are going to vote on the bail out more times and eventually they will pass it, so I say we go up from here...
Last few times when there were financial crisis, or issues like congress to vote, I have seen the press down moves, thus the posting on NQ limit down first.
Key elements to a stronger bottom is that we do not close at the low. Better if long side stronghands pushing the close to a more neutral zone.
If so, we can go all the way back up to 1180 as a first test of strength.
Key elements to a stronger bottom is that we do not close at the low. Better if long side stronghands pushing the close to a more neutral zone.
If so, we can go all the way back up to 1180 as a first test of strength.
the cycle of destruction and reconstruction is endless, what has been gained from this?...
1) Russian supremacy thwarted, with Oil prices sliding.
2) Global transfer of wealth overseas abated.
3) Long term yields stablized at low levels during a engineered deflationary attack.
4) Inflation not as much of a concern.
5) Forced conservatization of the american consumer.
6) Japanese style deflationary period with financing the american debt being more doable with demand for credit allocations versus equities.
...some things to think about.
1) Russian supremacy thwarted, with Oil prices sliding.
2) Global transfer of wealth overseas abated.
3) Long term yields stablized at low levels during a engineered deflationary attack.
4) Inflation not as much of a concern.
5) Forced conservatization of the american consumer.
6) Japanese style deflationary period with financing the american debt being more doable with demand for credit allocations versus equities.
...some things to think about.
Spectre2007 are you with puretick?
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