DOW

Is that a BULL Flag developing while Obama is making up is mind???????



Happy New Year

I believe a deal will be reached by the govt , and there will be a relief correction lol. Traders could think ok deal struck, but price is still high so let off some steam first before we try to do a higher high.

This could be one scenario.

Ocean10 wrote: Remo,
I agree with your comments particular with the head and shoulder scenario.
I would like to propose an alternative view since the drop is heavily linked with news “fiscal cliff”. If Obama and crew come up with something during the weekend, DOW can bounce off the 61.8 fib !!!!!



yep if obama comes up with some thing then the picture can change so quickly from bearish to bullish.
Thats the downside with all this manipulation thats been going on for the past few years.It sure can mess up my charts

There seems to be some logic in this too..S&P seems to be in a trading range for the last 12 years or so

www.incrediblecharts.com/tradingdiary/trading_diary.php

xmas rally scenerio finished on christmas day. we have had a nice rally this year which started on 16th nov and ended on 18th dec so not quite christmas day but a rally of 800 points is not bad.Its been like this most Christmases .
Santa has gone back to Lapland for preparation for next year.

Diver,
Suggested target of 12920 met , hopefully we'll head upward now.....