Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality

Iraq Dinar/News is a popular topic among many topics this board offers.

See the footer of the board for our Facebook and My business pages.

Be sure and join our Dinar Only Newsletter Email list. It is located on the right. Your User Account Email when joining the board is for with in Neno's Place use of board information which you can control in your profile settings.

Neno

NOTES:
For "Advertising" with in my board to our Membership and Visitors see our "Sponsor Ad Info" in the Navbar. Neno's Place receives a low of 50,000 views a week to over 100,000 plus many times thru out the year.

I can be reached by phone or text 7am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.
Established in 2006 as a Community of Reality

Longest Dinar holding Community. Reach Admin by Private Message. Copyright © 2006-2017


Dow for the Closing May 6th, 2016

Share

Lobo
Moderator
Moderator

Posts : 17733
Thanked : 871
Join date : 2013-01-12

Dow for the Closing May 6th, 2016

Post by Lobo on Fri 06 May 2016, 4:19 pm

In the Dow, we have technical support at 17573 and a Daily Bearish Reversal at 17568. At the time of this posting, the Dow is trading at 17633 and the low has been 17580. A closing beneath this level will warn we could see a decline into the week of the 16th. The primary Weekly Bearish Reversal lies at 17120. Electing that would signal  a potential sharp drop of 1,000 points. Otherwise, we are churning. Holding this technical support today still leaves this market in a position for a two-week rally and new highs cannot yet be eliminated. We would not expect any major follow-through. This topping pattern is similar to when the Dow tested the 1000 level four times before it finally broke out to the upside in 1985 with the start of this Private Wave.
When we look at timing, we can see that the weeks of the 16th and 30th are the key targets, with a Panic Cycle coming into play the week of June 6. We have a Directional Change also the week of the 16th, so ideally whatever we get the week of the 16th should be followed by the opposite trend for two weeks thereafter into the week of the 30th. We do see Directional Changes clustering in mid-June and a rise in volatility the week of June 20th, which just so happens to be the BREXIT vote. We will be putting out a special report on BREXIT shortly.
So do not anticipate. Let the market confirm its decision. We are in a choppy period right now so do not get committed.
https://www.armstrongeconomics.com/future-forecasts/dow-for-the-closing-may-6th-2016/

    Current date/time is Fri 02 Dec 2016, 4:11 pm