Dow weekly

The expectation is for price decline.

Classical technical analysis wants to see a close lower than the last low within
the formation to confirm the breakout. So, not just yet.

However, I note this evening that a lot of weekly stuff is doing the crossover boogaloo.

http://stockcharts.com/c-sc/sc?s=$INDU&p=W&yr=1&mn=0&dy=0&i=p56890735161&a=187472865&r=7592.png

Edited by selecto, 18 March 2011 - 06:39 PM.

[quote name='selecto' date='Mar 18 2011, 08:34 PM' post='568533']
The expectation is for price decline.

Classical technical analysis wants to see a close lower than the last low within
the formation to confirm the breakout. So, not just yet.

However, I note this evening that a lot of weekly stuff is doing the crossover boogaloo.

http://stockcharts.com/c-sc/sc?s=$INDU&p=W&yr=1&mn=0&dy=0&i=p56890735161&a=187472865&r=7592.png
[/quot

we might go down to 1240-1250 spx, but that 6 month chart on the dow weekly doesn't give you and appropriate view of what's going on, Lt view we are pulling back from overbought in a bear flag pattern, still in a bullish inverse head and shoulder's pattern http://stockcharts.com/h-sc/ui?s=$IND...id=p46833498601

Dow will lead the way back up when it is time and tech will be the laggard (the "s" word is on everybody's lips , they're wondering if the fed is behind the curve)

http://www.charthub....titled_15_2.png

Results in last 9 years...long 10k SPY Avg Profit/Trade $414.31 Avg Position Size $9,941.51 Avg % Gain/Trade 4.167% Avg % Gain/Bar 0.939% Gross profit $6,628.99 Maximum Drawdown $867.00 Commissions $0.00 Average Drawdown $330.73 Net Profit $6,628.99 Ratio Avg Win/Avg Loss 2.51 Total # Of Trades 16 Percent Profitable 87% Winning Trades 14 Losing Trades 2 Largest Winning Trade $1,840.05 Largest Losing Trade $234.08 Average Winning Trade $502.06 Average Losing Trade $199.92 Largest Winning Long $1,840.05 Largest Losing Long $234.08 Number Periods Long 71 Percent Periods Long 15.64% Max Consec. Winners 9 Max Consec. Losers 1 Avg # Bars In Winners 4 Avg # Bars In Losers 4