We are in a recession. The government is manipulating the market. We are clearly in a downtrend. As a reader points out in the comment section, the longer term charts show a target far far lower. About 6200 on the Dow. Sound crazy? It can happen. It likely will. That is my bias. What will I do with that bias? Trade one day at a time. Identify bullish and bearish setups. Follow my process. A trade is a trade is a trade. Joel Stahl
« Its a New Day (a sad day) | Main | Levels to work with »
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8345f96a053ef010534bc1428970c
Listed below are links to weblogs that reference Longer Term Target for the DOW :
Comments
The comments to this entry are closed.
Recent Posts
- S&P 500 Video Update Feb. 13, 2012
- S&P 500 Video Update. 12/14/2011
- S&P 500 Video Update December 9th, 2011
- S&P 500 Video Update
- A Look at the S&P 500
- S&P 500 Type II
- INFA, Weekly Type One Buy with Options
- DBA - Powershares Agricultural Fund: Type I Trade
- Technical Trading and Fundamental Events
- Trend Reversal, $SPX Daily
Long term (monthly) negative divergence (Oscillator). Shorter term (weekly) has positive divergence. Look for rally into end of year before going lower.
Posted by: Bob Knorr | September 20, 2008 at 09:29 PM
Regarding my previous post---Weekly positive Oscillator divergence on S&P, not on Dow.
Posted by: Bob Knorr | September 20, 2008 at 09:31 PM
It is very clear now that dow is going towards its type 2 monthly target of 5800. Now even monthly XTL 1.5 also comprehensively broken.
Posted by: sumeet | October 06, 2008 at 11:36 AM
I agree with the LT target, but I think it is very important to dig in if there is an imminent bound, as I think, b/c selling today it could very painful in the near future.
Posted by: Roy | October 07, 2008 at 09:32 AM