The DOW is the only main index short of completing the 13 count (status 12) which is not mandatory for the markets in order to turn. We can see that the trendline resistance is working quite well so far but at the end we will brake above it in a time frame til summer. Its a bit weird for me sometimes to argue for the bull case as fundamentally its a bit weird but markets are not rational. I still believe that a B correction is overdue but we started again with a weaker lap opening into the Monday and I rather would have preferred a stronger opening fading off Monday. The least correction would be down to 7500 but 7250 is also likely before the 'suckerbulls' can take over again.New Moon days tend to be positive but we have some negative days ahead as Mars and Pluto will square Pluto these days. The outbreak of the Swine Flu about to be raised to level 4 ( first time if done) might be the sad trigger point for the correction. The phony stress test for banks will not bring big relief as the worst case scenario is far from being worst case. The danger in this Flu is the fact that millions of illegal Mexicans might hesitate to claim their sickness therefor DC needs to give them a perk in order for them to act responsible.
Monday, April 27, 2009
Dow tech outlook
The DOW is the only main index short of completing the 13 count (status 12) which is not mandatory for the markets in order to turn. We can see that the trendline resistance is working quite well so far but at the end we will brake above it in a time frame til summer. Its a bit weird for me sometimes to argue for the bull case as fundamentally its a bit weird but markets are not rational. I still believe that a B correction is overdue but we started again with a weaker lap opening into the Monday and I rather would have preferred a stronger opening fading off Monday. The least correction would be down to 7500 but 7250 is also likely before the 'suckerbulls' can take over again.New Moon days tend to be positive but we have some negative days ahead as Mars and Pluto will square Pluto these days. The outbreak of the Swine Flu about to be raised to level 4 ( first time if done) might be the sad trigger point for the correction. The phony stress test for banks will not bring big relief as the worst case scenario is far from being worst case. The danger in this Flu is the fact that millions of illegal Mexicans might hesitate to claim their sickness therefor DC needs to give them a perk in order for them to act responsible.
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