DOW

Dow weekly attached.

I have one long open and sitting on the cautious side. A few indicators like gold and defensive stocks are picking up - all making me more cautious.

My view of the DOW...I have noticed a negative divergence on the MACD and what looks like the right shoulder in progress. This is only based on what i see. However, if this H&S doesnt materialise, we could be in for some mega moves up.

dl.dropboxusercontent.com/u/4385922/dow_Feb14.png

Cheers

waverider2 wrote: Diver/WS- dangerously looking like H&S...

this one ?

dl.dropboxusercontent.com/u/40497882/Wal...0%28DFB%29Inv_HS.png



or this one (full head not even formed yet)

dl.dropboxusercontent.com/u/40497882/Wal...t%20%28DFB%29H_S.png




rgds WS

Diver/WS- dangerously looking like H&S...

the submarine is my avatar it was replaced by the rocket on Jan 06 to advise caution on the indices on the long side, signalling danger, along with this alert on chat:

:evil:

we all know what happened thereafter....

i will be replacing the submarine avatar with a rocket in the making soon once i have all the confirmation i need, no confirmation no rocket. in fact this is what i have had behind closed door for a few weeks now:




dow 15340 was a good price


hope that clears it up.

cheers

WS

Price is King

WS, I gotta say I agree with everything you say - well, the bits in English anyway Some of the stuff, "Submarine stays until path clears up but im close to losing it " is in another tongue

My chart shows resistance on the current move at 16,242 and subsequent support at 16,028.


dl.dropboxusercontent.com/u/7238706/DOWdaily.png

As far as I am concerned this is wave i of 5 and impulsive, and shows no sign of ending until well into 18,500's and will then probably extend further.

Relentless rally ?

rocketship in the making imo, Dow still has got quite a bit of work to do but it is in the process of generating a spectacular Buy signal if you think this move up was strong, then watch ...as discussed on chat

No sell as of close on Friday but is weaker than spx, nas etc and 1st tier buy remains which means any pullbacks to be bought, short terms i'm expecting a pullback once this move is complete, 16240 area is to watch short term, a move abv then the a test of Dow highs to follow.

Bull case look strong imo rather than this being a B wave up, impulsive 5 waves up i see, however next pullback will define it.

Submarine stays until path clears up but im close to losing it


in the meantime - what the fork, it's back in




dl.dropboxusercontent.com/u/40497882/Wal...%28DFB%29_weekly.png


all imho - dyor

Regards WS

Price is King