Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


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Wednesday, September 29, 2010

DAX topping or consolidation?

Dax has been in a range since Feb this year... UPPER BOUNDARY at 6360

 Could be an ascending triangle (bullish scenario) with a break above 6360 signalling new highs..OR could be part of a rising wedge (which if it breaks t the downside would be BEARISH).

Since we are near the TOP of the range got to be short here, looking for at least  a test of the lower boundary, or a decisive break lower (VERY BEARISH).

The weekly chart shows possible rising wedge, and the range bound formation, in relation to the all time highs

Tuesday, September 21, 2010


Kids BACK to school...

Wife BACK to work

BACK to looking at the markets...

Starting off with some LONG TERM charts...

DOW JONES INDUSTRIAL ..The HEADLINE index (the one EVERY one watches, talks about etc)

The KEY level seems to be 11200 on the upside... 500 points away..
VOLUME doesn't SEEM to be confirming this move up.....

Many BEARS are DESPONDENT and some signs of CAPITULATION
Trading near the TOP of a channel..


Shows proximity to the monthly channel
Looking extended short term..pullback then a final move up to test that channel?


Also nearing RESISTANCE best seen on  WEEKLY and DAILY charts..


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