Dow Jones Industrial Average

[kkr555]

Or it could be a "false" break out above S&P 1120 resistance and then rollover in US Q1-2010.

Originally Posted by man4urheart

Well expectation is down but then markets do their own things...we will follow breakout than prediction!

It is interesting though, it is been almost 2 months now in that range!

[man4urheart]

Here is my count of Dow Jones and should be followed by another ABC wave. We are in Wave A.

61.8% sits at 11288. Could be a FLAT in making in coming 2-3 months.

If you cannot count something 1-2-3-4-5 it is a corrective. So I would never label this rise since march 2009 as a impulse.

Subwaves of this rise are also not in 5 sequence and rule of alternation is also not in play for rise. So Dow in Corrective sequence.

[man4urheart]

Here is a chart to notice play between 50 EMA vs 89 EMA.

You will notice Orange Arrow a buy signal in Jun 2009.

Till now 50 EMA never has tested 89 EMA. This would be a reliable signal when it comes of trend becoming weak.

Rest all is just mirage in this market. Anybody long on DOW watching this crossover would be the one laughing to bank.

Or it could be a "false" break out above S&P 1120 resistance and then rollover in US Q1-2010.

Also interesting is the False signal from the breakout. Then it went down and again it reversed. Killing stops both ways!

The 50 Vs 89 is the only EMA combination holding up!