Maybe there will be some interest in the intermarket analysis between the Dollar the DJIA.
Here is a weekly chart of the DJIA. We have already made numerous southbound trades in this channel over ther last 6 months.
we are looking for more southbound trades off of the upper red horizontal line at 12720. Target is the lower red line at 11000.
Timing for this southbound ride is between now the end of the year as depicted by thedashed blue vertical time lines.
Price will try to hold for the election year but I do not think price will hold. Into next year I expect the 11000 mark to break head southbound towards 10000.
Price should be into the upper 11000 range shortly on more bad banking news more bad news in Iraq. Current price is 12325
Any rebound towards 126xx is likely a reasonable place to short as I beleive a precipitious drop is imminent 12720 may not be reached again.
The fundamentals of it are simple. Four more lines filed for bankruptcy last week. Those lines that just got out of banckruptcy are losing lots of money even at 100% occupancy. Expect flights to be cut by 50% ticket prices to double surviving lines to merge further reduce employment by yet another 40%. Banks lines are about the last two remaining industries in America the companies in these American industries are losing $1 billion per quarter each. Meanwhile the US government is losing more than $1 billion per day in Iraq alone. With less than 45% of US high school students ever graduating high school these are very troubling times that will not be rectified easily nor overnite. The Kitchin Cycle says that there is trouble between 2002 2030 this cycle has not failed yet.
A drop in the DJIA to 11000 will not be the end of the fall. Look for a trip to 10000 soon after the market is finished being propped up for elections. The worst of it will likely start to appear within 6 months after the next president takes office.
A bleak picture indeed. Save the silly comments about a bird the sky falling if you are so inclined to be a blissfully ignorant eternal hopefull. I am here to trade what I see.
I have my short entry zone at h. Supposedly the market has risen these 200 points because Coca-Cola sold more pop overseas JP Morgan's profits were down only 50% on just a $5 billion loan loss reserve.
There are tens of thouss of subscribers here apparently no interest for trading the indexes that can tie nicely to the dollar. So this will be my last chart post on the topic. There is more interest in spammers selling here on M'tec these days than there are people who try to trade.
yeah apparently the wealthiest guys are selling bikes MT4 indicators ****% return strategies I feel Moneytec is becoming more of a china-town really.
Im sorry for that offtopic post but I also got fed up with stupidity of the 99% of the posts here I will definately quit this once I setup my coll2 dot com account.
It has been a long time since I logged into this....er site some 10500 posts ago or so the counter tells me. We have moved cell ph to shoe salesmen lol.
Currencia your trading talents insights are wasted here. It is like casting pearls before swine.
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