The daily chart shows a very close resemblence of the 2007 top as we were also whipsawing around the 200 day MA in the final phase and the 50 day MA is moving towards the death cross again. the only problem right now is rather to determine how high this small rally will go as we have a temp. bullish pattern the conjunction of jupiter and uranus in aries. 83 years ago it made the dow rise from 170-200 within 3 months but with other planets being in benign angles. this time we have very negative aspects and heading for a crash like scenario starting around the 26th june. the head shoulder pattern building the right shoulder has margin left to 10700. Around current levels we we have a 38 percent retracement.
Friday, June 4, 2010
DOW weekly update
The daily chart shows a very close resemblence of the 2007 top as we were also whipsawing around the 200 day MA in the final phase and the 50 day MA is moving towards the death cross again. the only problem right now is rather to determine how high this small rally will go as we have a temp. bullish pattern the conjunction of jupiter and uranus in aries. 83 years ago it made the dow rise from 170-200 within 3 months but with other planets being in benign angles. this time we have very negative aspects and heading for a crash like scenario starting around the 26th june. the head shoulder pattern building the right shoulder has margin left to 10700. Around current levels we we have a 38 percent retracement.
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