DOW

The rally we have have seen in the dow from 18200 to 22550....which is approx 20%
I think its perfectly normal...and its way to early to get bullish here...eve if we do see a 1,2,3 low....the Dow always pushes people to the limits...in terms of ones view and Analysis....

Looking here now at the last bear market in 2008/2009
dow - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...eZs+bxrnSDfDiXUW/aE=

the market dropped about 55/60% form just above 14,000 to about 6500 for the low....
in between that drop i can see plenty of 20% rallies....

So careful not to fall in love with the upside just yet....a bit of patience could really pay dividends....
in terms buying into this market lower down imho....

lets see how it goes...
Nice short trade today Libero... just being honest here...really don't think you should include me with those legendary names in your last post!
could well be a h&s top Long term....was deffo a retest of the high...22550 area and the 20 day ema line today....and it failed... (so far anyway)...

atb, wdik, dyor,
trendfriend

Looks alike down trend is about to resume...
The 123 low did not materialise yet...still in play.....
Once it goes below the 2 point(21000) then it cancels out...and would mean the lows would be hit...

longterm_view wrote: Libero / TF

It looks like there is a H&S forming on the 1hr chart. (On iPhone so cant post a chart)

After an uptrend, so in the correct place.

Neckline is about 21775 I believe.

Perhaps somebody can confirm?

I'm a rookie, so will gladly give the floor to my betters (remo, trendfriend, jackozy, wavesurfer et al - sorry if i missed anyone else out!), but it does look like a H&S over that line sure.

Stay Safe.

Libero / TF

It looks like there is a H&S forming on the 1hr chart. (On iPhone so cant post a chart)

After an uptrend, so in the correct place.

Neckline is about 21775 I believe.

Perhaps somebody can confirm?

Trendfriend wrote: Sorry Libero....i was on my phone...i meant 22550 i must have fat fingers!

Here's a chart to show what i mean.
dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...2MxdMYYv6ZhqIuxxotI=

This has finally come down a tad today.....
I don't mind it going either way to be honest....if it goes up above 22550 for a 1,2,3 low as Remo has just posted below and above the 20 day ema line....then it just means i have been wrong....and 18200 may well have been the low after all...

I'll clean some egg off my face and then buy some stocks (for the longer term)

Having said that... could this still drop down for a lower low below 18200?
I think so....but wdik...

atb, wdik, dyor,
trendfriend

No worries man, I figured it was 22550

Meanwhile, the scalps came good - particularly at the end....




Still, must keep sight of the big picture too. Not sure if we saw the bottom, maybe - I know that bear markets take a while to form, but! this was the quickest sell-off in history, so it's bound to be the quickest snap back off the bottom too.

Either way, we'll know, when we'll know!

Stay Safe, and Keep Trading Safely too - my ol' ticker can't take too much of this ultra-short-nip-in-nip-out-trading....

Sorry Libero....i was on my phone...i meant 22550 i must have fat fingers!

Here's a chart to show what i mean.
dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...2MxdMYYv6ZhqIuxxotI=

This has finally come down a tad today.....
I don't mind it going either way to be honest....if it goes up above 22550 for a 1,2,3 low as Remo has just posted below and above the 20 day ema line....then it just means i have been wrong....and 18200 may well have been the low after all...

I'll clean some egg off my face and then buy some stocks (for the longer term)

Having said that... could this still drop down for a lower low below 18200?
I think so....but wdik...

atb, wdik, dyor,
trendfriend