Looks like a market break out brewing
- Thread starter fantastic4
- Start date
Quote from Rabbitone:
The cycles in the Dow on weekly the daily will turn around in the next 5 days. For confirmation look at the recovery yesterday. Dow will top out between 10800 and 11600 between april and august 09 and then turn back down when earnings fail to start any comeback.
If we get that high on the DOW in 2009 it will be just a matter of time before the markets retest there 2008 lows.
I'm bullish on a longer term time frame, and am looking for a bullish January. I am biased since I currently have some real positions on the long side. Tonight I'm paper trading, well, today your time, and am looking for an entry at the high value area, which also happens to be the ambush zone from the beginning of Monday's big rally to the top of the pre market today. I'll enter so long as market internals confirm. I'd say there's a good chance I won't be filled today, but every time I say that, price comes to my entry while I'm in the toilet or washing the dishes. I'll be patient. Here's a chart. The yellow lines are the ambush zone and the blue in the middle of them is that high value area.
The trend is up. what the freak are you talking about? On what time frame? Your an idiot!