Recent content by oldschoolwaver

Makarona - no one knows for sure what the market will do over the long term. The best chance you have at making money is following the technicals and using the past as a guide for future events. Yesterday the Dow hit the uptrend channel I have been talking about for a few weeks now. We will...

If you look back to the rally from October 1999 through January 2000, it closely resembles the technical formation of the markets today. There was a pseduo double bottom that preceded a relentless wedge type formation that just kept going higher, then there was a knee jerk correction, and then...

Dow Jones Industrial Average Monday, October 2nd 2006 Short Term Trend - ***REVISED***Bearish 10900 - 10700 Long Term Trend - Bullish 11500 - 12000 Dow - Short Term Outlook The Dow peformed strongly today compared to the other indices. We have developed a head and shoulders pattern on...

Dow Jones Industrial Average Tuesday, September 19th 2006 Short Term Trend - Bearish 10000 - 9800 Long Term Trend - Bullish 11500 - 12000 Dow - Short Term Outlook The Dow was able to float outside of the wedge today; however, we will need an expansion in price and volume to validate the...

Newschoolwaver - your analysis is pretty sound and you have the overall direction of the market nailed (which is the most important part of technical analysis). My only comment is your Wave A is really 1 and your (ai) is 2 and your e/(b) is really 1 of 3. I beleive the market has put in its...

Dow Jones Industrial Average Wednesday, August 16th 2006 Short Term Trend - Bullish 11400-11500 Long Term Trend - Bearish 9800 - 10000 Dow - Short Term Outlook What a difference a few days can have on the market. All of the indices are in bounce mode and our short-term target is right...

rf74nz, you are right about the volume...it will be light on this leg up in the market. This is one of our clues that this rally at some point will completely fall apart. But before we face the selling in a few weeks, the market will continue to climb this wall of worry.

Wednesday, August 2nd 2006 Short Term Trend - Bullish 11700-11750 Long Term Trend - Bearish 9800 - 10000 Dow - Short Term Outlook The Dow was up today from the start. We were able to maintain this up bias throughout the entire trading day. Towards the close, the bears attempted to take...

Monday, July 31st 2006 Short Term Trend - Bullish 11700-11750 Long Term Trend - Bearish 9800 - 10000 Dow - Short Term Outlook Today was an inside day. Meaning the Dow was unable to take out the previous day's low or high. Inside days provide the market a chance to take a breather from a...

Friday, July 28th 2006 Short Term Trend - Bullish 11700-11750 Long Term Trend - Bearish 9800 - 10000 Dow - Short Term Outlook The Dow started out the day pretty strongly after the morning GDP numbers came across the tape showing the economy was slowing down. The bears had a brief moment of...

Wednesday, July 26th 2006 Short Term Trend - Bullish 11700-11750 Long Term Trend - Bearish 9800 - 10000 Dow - Short Term Outlook Today was pretty wild overall. The shorts woke up today with a huge smile on their face. The news out there was just horrible. Global conflict was spinning...

Monday, July 24th 2006 Short Term Trend - Bullish 11700-11750 Long Term Trend - Bearish 9800 - 10000 Dow - Short Term Outlook Well in Friday's update I stated that we would either go after the support line at 10800 or attack the resistance line in the 11,150 area. As you can see from...

Dow Jones Industrial Average Wednesday, July 19th 2006 Short Term Trend - Bullish 11700-11750 Long Term Trend - Bearish 9800 - 10000 Dow - Short Term Outlook Today was just one of those days that makes you appreciate technical analysis. If you scroll below, you can see my post from...

When looking at the chart, it's clear XMSR has been creating an ascending triangle since the 12.77 bottom. Once we clear the 14.98 level on the chart, we will start to see some sparks. Another clue with XMSR that it will break out is that the high volume days in this triangle formation have all...

Point b is set at 10698. Once we break the b-b-b support line, we have officially begun the next leg down. Now for a Dow Update. Based on today's action it appears we are prepared to hold the recent uptrend in the dow. The key number now is the previous swing high 11,257.08. If we are able to...