DJIA recovery sustainable?

[bbmac]

The pics below are the Weekly Dow chart 1928-32 and the index from the 2007 Hi to present day...look closely at the pattern marked by the letters a-g on each chart.

The question is, are we at point h again?,...and if not is point g the beginning of the W shaped recovery?

 

[pedro01]

co-incidence. Nothing more.

 

[rathcoole_exile]

coincidence is God's way of remaining anonymous .....

 

[Technically Fundamental]

I know where I'm looking for a bloody correction first.

Or maybe a a rally in the nikkei


(relative to 09/03/09)

 

[Technically Fundamental]

Japanese equities stand to lose a lot of ground if the dollar index hard of the bottom don't they? Money pours back into us equities and bangs the dow through 10k. Recovery is well under way and everyone has a wonderful Christmas unaware that everything is going to implode next year.

Rel to 12/06/09 tops to account for reaction to retrace.

 

[timsk]

The pics below are the Weekly Dow chart 1928-32 and the index from the 2007 Hi to present day...look closely at the pattern marked by the letters a-g on each chart.

The question is, are we at point h again?,...and if not is point g the beginning of the W shaped recovery?

Hi bbmac,
Point 'h' on the 1928-32 chart is smack into an area of resistance. We're not quite there yet on the current chart. If price was nearer the 10k mark or even 11k - then yes, I think there is an argument for suggesting we're at point 'h' again. We'll have to wait 'n' see.
Tim.

 

[TheBramble]

You seem to be basing your analysis on technicals.

When even the fundamentals clearly no longer hold sway, or have any impact at all on reality, what precisely is the point?

There needs, IMLTHO, to be a view toward not technical or fundamental, but political analysis….

You can wait for the price to do what you think it should do of course, but my money is on the big money, which is what has just been handed out BY the governments (US & UK) to those that will decide where they want the prices to go.

I should do a seminar….

 

[Technically Fundamental]

Yes Bramble but how do you figure out who wants what when there are so many balls in the air?
Wonder if they're trying to create new levels to try as support on the way back down lol.

 

[LostPigeonCoo]

In the long run it recover, may or may not have big pull backs before then, depens on the market news etc.

 

[pedro01]

I agree with Bramble.

Chart patterns from the 30's overlayed to today are not the basis for a sound investment decision. They are entertainment at best.

TA is a crutch & you cannot walk on crutches alone.

 

[counter_violent]

Point G on either chart is not W shaped anything...unless I need my eyes testing.
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Interesting NK charts attached...a most perculiar rounding oval price shape before plummeting and the same condition presenting.

 

[counter_violent]

You seem to be basing your analysis on technicals.

When even the fundamentals clearly no longer hold sway, or have any impact at all on reality, what precisely is the point?

There needs, IMLTHO, to be a view toward not technical or fundamental, but political analysis….

You can wait for the price to do what you think it should do of course, but my money is on the big money, which is what has just been handed out BY the governments (US & UK) to those that will decide where they want the prices to go.

I should do a seminar….

They can manipulate until the cows come home, i expect reality will catch up with their nonsense...and none of this has been tried before on this scale. Uncharted waters. Jury's still out.

 

[bbmac]

You seem to be basing your analysis on technicals....
I should do a seminar….

Hope you enjoy your seminar...As for your openening statement, I was offering no opinion, simply posing a question. personally I think the fundamentals are completely different and as trendie says 1928-32 was at a previous swing lo=previous support=potential resistance area on the drop following the intial recovery. Unlike you, I think it's probably gone beyond politics now, the market will decide based on the over-riding fundamentals.

 

[Technically Fundamental]

point g on either chart is not w shaped anything...unless

c>>>e>>>f>>>g>>>h = w

 

[counter_violent]

c>>>e>>>f>>>g>>>h = w

c>>>e>>>f>>>g>>>h = higher low.
Not a W in sight...a W is a double bottom....clear enough ?

 

[candles]

So you do sometimes use charts, CV?

 

[counter_violent]

So you do sometimes use charts, CV?

Loads of them amongst other things...why

TA is not just about charts...theres tons of stuff comes under the heading of TA and nothing whatsoever to do with charts.

 

[Technically Fundamental]

does it have to be a proper double b?

 

[N Rothschild]

co-incidence. Nothing more.

 

[N Rothschild]

s&p is only about 50 points off the 50% btw