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Strategies & Market Trends : Technical Analysis With Charts

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From: MACD X	2/19/2009 2:20:36 PM
	1 Recommendation Read Replies (2) of 6865

best educated guess for 2009 stockcharts.com I have all but abandoned this site and my opologys for this but I dont have the quality time that I once did to put into this site which at one time was a great site with great posters that came here regularly to have input and enjoy the thoughts. This year I put up no stock pick as usual, but in this post it pretty well sums up my thoughts at this point in time. Things change in the art of Technical analysis from day to day as the peaces of the puzzle fall into place day to day. What we see on the chart above is a pattern that is well underway and much of the puzzle is showing. From the tool box on this site you can plainly see that two congestion centers will like take place. This suggest the center of the entire decline with be between these two congestion centers. Only on this site will you hear discussed orphan candlesticks as it is one of my observations of many years of chart reading and something I recognized a few years ago and shared here on this site. There is a obvious orphan candlestick on this chart pattern. There is also a gap directly below it. This gap will likely throw the 50% center off of the orphan slightly. I suspect the actual center will be just low of center and the bottom may be near the 1100 area which is support of the 2002 bottom, a likely place to set up a bottom. If symetry is important (and it always is)the time that it took to get to the orphan will likely be the time it takes to make it to the end of the pattern plus or minus a little. It this turns out to be correct expect a fall bottom after a length consolidation period that we are now in. To recap, Nazdaq will bottom in the 1100 area in the fall of 2009 near Sept. this will be my prediction for 2009.

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