Saturday, February 26, 2005


With a huge 92 point gain for the third big up day in a row, the Dow may still reach our old target of 11100, but as I've abandoned that now and was looking for a drop based on the stochastics indicator, I'm disappointed. The market can do this occasionally, drop, make a fast, last move in the previous direction, then make its real drop. I think that's what's going to happen this time. The stochastics will go over the 80 level again, then when it breaks below it; the market will really drop. I think.

The weekly chart, above still shows a positive trend with green price bars. This week may be the last up week for a while, so we should enjoy it while it has a last gasp.

0 Comments:

Post a Comment

<< Home