Friday, June 04, 2010

The Case for DOW 4500 WATCH IT Unfold! - Week 5 - A Little Dipper

I  just wanted to bring this to your attention.  A nice head and shoulders on the daily $SPX, $DJI and $RUA looks like it is close to completing the right shoulder.  This pattern has been in development since December 2009, clearly this pattern should give anyone special heed if you are considering buying into these bargains. 

This H&S pattern is encapsulated witihn the 20 year pattern I have been writing about extensively. 

If you subscribed to my Aimed Daily Market Forecast or Aimed Bi-Monthly Market Forecast you would have known about the potentiality of it 24 hours ago.  Check out the William Tell TradeCraft store for details, just click the June 1 bi-monhtly report image.

Todays action looks to have made this right shoulder a done deal, definately bad news for Monday-Next week, unless something extraordinarily positive happens...

It's possible this could still head up, but it actually double topped, so I 'd say it's a goner.  Especially since the the DOW dropped 150 at the open.  Maybe a success story out of the Gulf will stem the bleeding, but even that may not be enough good news.

The $RUA is sans Fibonacci lines...  Each chart looks the same there is no escaping this Large Cap, Small Cap, Micro Cap, it just doesn't matter.

The little dipper.


My Favorite Roller Coaster!

blogger templates 3 columns | Thank You! Please Come Again!