Posted on 07/07/2009 9:29:28 PM PDT by waus
The Dow broke through support at 8200 to complete a head and shoulders reversal. Confirming earlier warnings, from breakout below the rising trend channel and from bearish divergence on Twiggs Money Flow (both 21-Day and 13-Week), the pattern signals a down-swing to test primary support at 6500.
Of course not. The national GOP are idiots who refuse to use the most basic information in a commercial.
If they ever did mention it they would quickly apologize.
Libtards + media + sheeple can do real damage, however.
As long as we’re getting into particulars, I can’t think of anything more “depressing” than Cap and Trade.
Hardly. “Technical indicators” are merely graphical representations of mass psychology. The obtain their characteristic “patterns” based on very distinct waves of market participant activity. The nuances and vagaries that mottle any given pattern are due to reflected trends in trading trying to take advantage of them.
For a simple example, take a “resistance level”. That level is reached when say, stock A reaches $50/share and then suffers a major setback to $25/share (could be anything, even rumor). There are a lot of people who bought at that top, and have held on through the loss. They have had the crap scared out of them and they are either ready to bail the minute it approaches $50 again, or they’ve actually set sell orders at that level.
They’re not trading rationally (in keeping it through a large loss, and not observing what is behind the rebound) but as that stock approaches $50/share those eager sellers are going to provide “resistance” to cracking that level, via their seling, until the shares they hold are back in the market.
If what this administration has done so far doesn't do us in...a combination of Cap and Tax and Single Payer health care will drive the car over the cliff...IMHO
Could have fooled me. Wall Street’s “libertarians” seems
perfectly fine with socializing losses and health care now that that their little fascist is in office. They are lining up for cap and tax.
Cap and Trade is signed, sealed, and delivered, is it not?
The Market knows this, does it not?
Word is not enough votes in the Senate...
So according to the technical chart situation, will we see another short term peak and then the first fall to the more solid bottom ?
It’s called “technical analysis.” Certain market experts study chart patterns to understand market trends in a historical context. Different shapes appear on charts that have contextual meaning. They track highs and lows, how many times these numbers get “tested”, etc. Louise Yamada is a noted technical analysis. Be interesting to see what she’s saying right now.
I guess Obama is “head and shoulders” above the rest.
I can see how it might reflect psychology rather than rational decisions (and markets are not always rational), but given how many investors try to trade based on technical indicators, and how few of them ever outperform the market, it’s clearly a complicated endeavor.
Meanwhile, in the butcher shop, the reading of lamb entrails (virgin ewe lambs) continues to show doom
Probably not.
It should be starting the next serious leg down.
Tuesday was the confirmation.
More than likely the bare minimum move off this signal will be back to 6500.
Remember the adage “The market can remain irrational FAR longer than you can remain solvent”... ;-)
It appears we are forming the precarious third shoulder now. Your thoughts?
I think we are headed to new lows.
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