Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Friday, 21 June 2013

Update on Dow

Readers will know that my 14900 target was surpassed (unfortunately with me not attached!). Compared to the pre-fall mess that was this chart, it is now looking very bearish. MyWave is downhill, under the retracement cloud and also under the 25day (green) fld. Next selling point will be when the momentum cluster is nested in the top of the sub-chart, and price is at the 'half-trend' line. Given the daily pivot is low into this move, I get the feeling price is going to flatline and the studies will come down to price - giving a bulls that 'trapped' feeling! R1 looks a possibility but for now, nothing to do but wait
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