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Strategies & Market Trends : Peabody Coal vanguard retirement forum
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From: MACD X1/21/2009 9:37:37 PM
   of 75
 
1 21 09 remain in the suggested funds from Vanguard.

stockcharts.com

This week I am doing something a little different as the chart above is of the Dow Jones Industrials Average.

It is commonly followed in the paper and you can easily follow it thier.

But what is on the chart is what to watch as the market trys to find a bottom here. It you look at the top you will see a resistance line that is marked on the chart. There was a test of the resistance line but it never made it up to test it and it failed as the market was too weak and started the decline.

When bottom of bear markets end a simular thing happens, it tests support lines, and on the chart above it is marked at around 7450. We may likely test it in the next few weeks, but it may not happen simular to the top that never had the test.

President Obama may have what it takes in turns of market confidence to turn the markets up right here at his starting point as president.

We will have to see what happens but this chart is updating every day and you can watch it in the following day to see how the test holes or not.

My money is that it will hold and a rally is coming, if it breaks below then we will go lower. But my thought are that we are so much ahead of everyone else I am comfortable being in the market at this time. Now is not the time to exit in my opinion.
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