Saturday, March 24, 2007 10:05:58 AM
MSGI - Wade - Len - All - Recession
I have been more and more curious about technical analysis and wanted to put this DOW chart up. It was drawn by Bud Rolfs at TFNN.com. He called the pull back 3 days before it happened based on the over extended condition in ALL of the global markets simultaneously. He is now saying we are near the top of the "countertrend" bounce, and the market will run out of steam and go to the bottom of the current channel.
What do the T/A Savvy here think?
I have been more and more curious about technical analysis and wanted to put this DOW chart up. It was drawn by Bud Rolfs at TFNN.com. He called the pull back 3 days before it happened based on the over extended condition in ALL of the global markets simultaneously. He is now saying we are near the top of the "countertrend" bounce, and the market will run out of steam and go to the bottom of the current channel.
What do the T/A Savvy here think?
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