Hi Chris,
Thanks, although I'm technically based, I began this thread in hopes of learning something about why this market keeps going up independent of my indicators. But, I do believe that all fundamentals are factored into the technicals regardless. BTW, I believe we just reached a resistance point in the DOW around 8150. One of three possible thing can happen here. They are:
1) The big top,
2) Prices will trade lower and digest it's gains before staging a further rally into new highs,
3) Prices will trade at this level for a few days or so and then stage a further rally into new highs.
I submit that I'll dismiss #1 as a likelihood here. That leaves 2 and 3. I don't have the slightest clue. I would guess at #2, BWDIK.
If the DOW corrects here, I would expect 7550-7600 to hold. Let's see what happens.
Hey, you homepage is great. It looks more like a reference site. Thanks for posting it, I saved it and I'll be checking back to it frequently. The LA traffic site will be especially helpful though, since I live in Fort Lauderdale, Florida. But, you never know...I could take a wrong turn, I do that sometimes.
Have a great weekend.
GZ |
