The Dow Fractal
#2
Posted 08 May 2007 - 11:16 AM
#3
Posted 08 May 2007 - 11:51 AM
No TA here just the fractals which define and point a direction ....
Thanks Frac, your posts are the best.
#4
Posted 08 May 2007 - 11:53 AM
The future is 90% present and 10% vision.
#5
Posted 08 May 2007 - 12:53 PM
#6
Posted 08 May 2007 - 01:03 PM
With regards to tomorrow, well it could turn negative, but would be surprised to see the rate decision and comments causing a crash
Regards ;-)
Mahendra is expecting a crash too........soon.
#7
Posted 08 May 2007 - 01:06 PM
#8
Posted 08 May 2007 - 01:18 PM
Plenty of arguments for both directions
Today we had a perfect retest of 2.550, where Nasdaq Composite has support from a trendline from 2004
On the other hand plenty of divergences out there - but is that not always the case
"Crash is coming" - "this is the top" - this has been said for quite a while
according to fractals 13.160 should have been a bit top - nobody is perfect and certainly not me
But just shows that the technicals give us a lot of information, but we need to look at the big fundamental events for direction and then after that we use the technicals
Rate decision and comments have been turning points before, but PPI and CPI dates have been even bigger turning points since may 2006
So for me it seems like a good idea to wait for these events
They will set the direction and then we can use the technicals to determine length of the direction
Crash up ?
#9
Posted 08 May 2007 - 02:10 PM
Hank I am curious on this one as I went short earlier today basis the NY breadth I see.
What is the time horizon on your fractal, ie to the est low point?
thanks.
#10
Posted 08 May 2007 - 02:48 PM
Mark S Young
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