Sunday, June 13, 2010

Following 1929

Keep following the development of this pattern.



Notice that the time of the development is different, but the pattern is the same.
If you are not impressed, look this. Currently, the next support in the channel in which the DOW JONES is moving is at 4.000 points. 



2 comments:

  1. Maxi,
    That´s a good point of view. I do agree.
    The question; what is the target for the right shoulder?
    Seems to me that near 10.600 is "short" time...
    {Saludos}
    matiasandres (from the other side of the world, a little town called Casilda :-D)

    ReplyDelete
  2. Thanks! I see the target in the SPY at 116, and 10.800 DOW JONES.

    A lot of traders waiting the right shoulder between 10600/10800, then, I would not go short there if I am not a day-trader.

    Look at this also:

    http://blog.afraidtotrade.com/a-haunting-look-at-the-line-in-the-sand-in-1930-dow-jones/

    There are only a few kms. between us, but we are "speaking" english LOL:

    ReplyDelete

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