For all you amateur TA's out there...
(For me, TA is often an interesting exercise while waiting for the fundamentals to catch up with the stock price..<g> or on days like today with the market closed....seeing that (our mostly negative outlooked) Dell TA threaders refuse to post anymore...must have been that guy who expected Dell to "fill the gaps" at 64 and 68 who ruined the party, I'll share a little knowledge here <g>...)
From our friend Jerry Favors (who has been uncerimoniously been bumped from CNBC's prime Friday 3:30PM slot, to Thursday, because in October when the Dow double bottomed at 7400, he said we were going lower, and he didn't turn bullish again until around 8800...Ouch!)
"In odd number years, if the Dow finished the end of January higher than the beginning of the month, the Dow will finish the end of the year HIGHER than the beginning of the year.....this indicator has never failed"
So, I guess this means, if all goes well, the Dow will be up at least 1% this year! <g>
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Amateur TA hour (my thoughts):
-Still looking for confirmation in the Dow Transport average, and major European market averages to confirm the bullish move (in the Dow) the last few weeks.....Supposedly, both are a good lagging indicator to confirm Dow (overall market moves)...we are getting there, but not there yet....Overseas markets today are almost all in the black...Brazil up almost 7%...Dow/Naz way above 200 DMA...
(Hey, I dun pretty good.....gegegeg)
Hey Sig, comment faites-vous? Ou est vous aujourdhi? |
