The Expanding Wedge

On the DJIA i see a beautiful pattern forming....i been saying long now for a few days and hopefully we can reach the top of the 'wedge'. My guess is that the top of the wedge will be broken and new highs reached.

But the pattern is quite strong so it may be worth having some each-way hahaha



safe trading

Boom Time!!!!

Well she did it....touched the bottom of the range and went straight for the top of the range.

Its now time to see what happend next; i've done some drawing with my crayons - LOL



We can see that the 'X' marks the three touches of the bottom channel.

The red rectangle obviuosly marks the range and the blue line marks downward resitance, whilst the black line is now acting as support in a rising market (s-T).

Ok the important thing now...'is where to now???'. well as you can see she has 'popped' the range and may infact continue on her merry way or fall back into the range.

Point to note, XJO re-entered the up-ward channel and broke the top of the channel and the 'range' all in one move...this seemed like a really impulsive move and will most likely lead to a week in the 'green'.

We had consolidation now my tip is 'long' with trailing stops.....

safe tarding

XJO time...

had a look at the XJO

a 'little' range bound...i been long since last week and am still expecting another run...we have now had 3 touches of the bottom and now its time to test the top or fall through the bottom



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Still Long I reckon

The 38.2 showed support and i think the bounce is on...

The Xjo is indicating a 'green' night in the U.S...we have recovered strongly and look like we will finish in the green....

I'm still looking for a correction...with 'some' U.S 'programs' coming to an end towards the end of the yr, early next yr it will be critical in exposing if the 'free markets' can function again.

safe trading

Been Quiet

really finding it hard to get back into the charting....i think the DJIA is a long...

time will tell



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Something from the past

Something I posted a while ago, the H&S




Now updated



As you can see the pattern played out and we are currently at the 'Neckline' - i'm looking for a 'breakout' on high vlume....lets see which way she goes

safe trading

Guess whose Back....Back AGAIN!!!!

Yes thats right, i'm back for another go....

I've been on a European Adventure for the past 5 weeks enjoying the sun, beers and partying, it was a hell of an adventure and one i will never forget.

But, the work must start again and here we go.....

Just gazing over the charts i can see we have gone higher and higher and higher....the market is having a great time and its seems 'some' people are shouting the 'recession' is over....well i'm thinking a little differently.

first is the Xjo at the 38.2% retrace....will this be an barrier?



Next is the DJIA; this is my attempt at a pitchfork



and is the DJIA 'curling' over;



thats enough for today, i will go into more detail over the coming week

safe trading