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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


Neno

I can be reached by phone or text 8am-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

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Dow for the Closing May 6th, 2016

    Lobo
    Lobo
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    Join date : 2013-01-12

    Dow for the Closing May 6th, 2016 Empty Dow for the Closing May 6th, 2016

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

    Dow for the Closing May 6th, 2016 DJIND-W-5-6-2016
    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.
    Dow for the Closing May 6th, 2016 DJFOR-W-5-6-2016
    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.

      Current date/time is Thu 28 Mar 2024, 8:00 pm