Donald; RE:" Das Trend "
>>According to my candlestick tea leaves, Donald, the mid-July Downtrend was buried in a gravestone doji Friday, intra-day. The operative trend appears to be a nice horizontal trading channel on the OEX that began in March-April. Sure hope so.
>I presume you are talking about the approximate range of 520-545/550. If the DOW breaks 8300 support range, then it is likely that the OEX will break 520.
Well, obviously - but it hasn't yet, Donald; so, in lieu of any other trend/channel evident, this is what we got.
I mean, to paraphrase your words: "If the DOW breaks 8700 resistance range, then it is likely that the OEX will break 545". (^_^)
Question is, "What's the trend, amigo mio ?" If the DownTrend from mid-July ist kaput, then what's the dominant trend now ?
C'mon, Donald - be bold, stick that neck on out there: what's your gut tellin' you ? You really think we're gonna continue to go down at the rate of 12 OEX points per week, until we hit ~460 (the mid-July DownTrend) ? Or do you think we're gonna vibrate along that March-April DownTrend channel in 8-9 day sine waves ?
You don't get kudos for tellin' me that DJIA ~8300 support is equivalent to OEX ~520, baby. But you get my respect for takin' a moment to pull back from the ticks and tocks and tellin' me what's in that battle - hardened gut o' yours !
And mebbe a bottle of cognac if we get out of this alive, comrade.
-Steve |
