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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Tuesday, December 11, 2012

Buy or sell? DAX, FTSE. DOW, NDX

Follow up on previous post  with FTSE DOW and NDX thrown in for good measure
Long? tighten stops
Short? stops are close by, and be ready to reverse on confirmed break higher...

Markets are poised for a break out higher..but will it be after another shake out??
Where's the crystal ball?

Monthly charts for LONG term investors


OK ! We may be about to break resistance and head to the highs around 8,000 BUT each time we have entered the highlighted area there has been a severe setback for the DOW.  Will history repeat itself ? (or at least rhyme?)


Also approaching a resistance band may be quite tough getting through. If it does, then can probability increases for a min test of the highs at 7,000


Clear up trend.   A break above recent highs should see test of all time high at 14k.  


Monthly shows clear up trend with recent weakness testing support and rallying.  a rally should go to new highs above 3,000.
Very dependent on AAPL


Oversold rally from around 505 level.  Another sell off almost testing the lows.  watch for
either a new low and rally, with RSI diverging (ie no new low in RSI)
or a move from here above 558 for signs that bottom is in.

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