Tuesday 11 October 2011

What are these crazy yanks up to?

Ok ladies and gents looks like the time has come to reopen the biggest economy in the world and see what the top 30 are doing... DJ weekly is below and I have focused on the SMA's , after the 1st fall in 08 the 200sma acted as a resistance and current action has been supported by the very same average.


then we have daily , with this chart i depicted an area where the price was battling with the 50sma , when price broke this area it then chased the 200sma which acted as a resistance chart below..


we then can zoom in on what last night action achieved.. a clean break of the 50sma with a chace of the 50% in sight. Current action has been bullish and we cant be blind a run to the 200sma before xmas.


My thoughts havent changed at all about this market, knowing and seeing current action does not mean that lower levels cant still be achieved , this churn is setting up for a large move imo( be it down or up) take it as it comes and enjoy the ride .... Bryan

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