Would you play a game of Limbo with the DOW?

[smartinvestor30]

Well you shouldn't! Because you'll lose! :mad:

Now that I have my fancy strategy desk software from Ameritrade I have a new chart of the DJIA. Take a look at it, don't cry, if you have a small child in the room ask him/her if they can see a pattern at the end of the graph. I think that things are about to get rough, I'm a little worried...


http://img.photobucket.com/albums/v731/SaM5246/DJIA_YR_jpg.jpg

[Jason28]

lol nice graph. I use Ameritrade as well that is a great site.

[pedrom727]

This chart is slightly skewed due to the modifications made to the composition of the DOW since the low. I'm still looking for the S&P 500 to confirm this move downward, still bearish but could see a pop at 1273 off the low, if we fall straight through I'm extremely bearish.

[smartinvestor30]

This chart is slightly skewed due to the modifications made to the composition of the DOW since the low. I'm still looking for the S&P 500 to confirm this move downward, still bearish but could see a pop at 1273 off the low, if we fall straight through I'm extremely bearish.

Based on the chart, just technical analysis where would you think the Dow will go?

[smartinvestor30]

By the way I predicted that it would drop on Thursday and then fall more on Friday. Look at my post on 6/20 from this thread:


(I think it's time I write a book on how to predict the market lol)

http://www.onlinetradersforum.com/showthread.php?p=117932#post117932

I agree with the previous two posts (Albert and Englishman). This is far from over, although there could be a small jump sometime next week.

Yup but any amount it gains will be gone by thursday and will go even lower Friday.

[wallstreetsedge]

see but now is where you use your little long term rsi's and see that the dow is oversold and doesnt have much downside left to it :P unless of course it decides to go to 12,000 next week with everyone on vacation then yeah the chances are possible we go under 11:P

btw... great commentary on the graphs! lol

[smartinvestor30]

see but now is where you use your little long term rsi's and see that the dow is oversold and doesnt have much downside left to it :P unless of course it decides to go to 12,000 next week with everyone on vacation then yeah the chances are possible we go under 11:P

btw... great commentary on the graphs! lol

lol, thanks the smiley faces are a special technical indicator only from available from TD :)

So in other words you are expecting a rebound Monday? Want to make a prediction for how it will close Friday?