Saturday, June 21, 2008 4:43:39 PM
Hi OM, ~~ DOW ~~ Cycle & Triple bottom near at DOW 11842 Weekly 200 ma support 11680 +/-. The 11800 +/- is also LT symmetrical triangle formation noted on previous posts.
FOMC meeting is on Tues/Wed. Rate decision on Wed.
Next week is a pivotal week as noted on (Bd 8800 ~ posts 8728, 8416)
With record high short and oversold market on daily, we will likely have a sharp rally.
6/27/2008 +/- is a turn date.
On weekly price action, favorable outcome is that markets consolidate in the LT triangle formation with wave C instead of breaking the lower sym triangle formation to lower target 10780 +/-. Nevertheless, we will likely see a bounce from the lower TL support after the recent pull back. For DOW, it is 10% pull back in one month in symmetry price actions from Mar 2008 low.
Good luck
Ref: Previous post on the 6/6/2008 turn date
http://beta.investorshub.advfn.com/boards/read_msg.aspx?message_id=29850382
FOMC meeting is on Tues/Wed. Rate decision on Wed.
Next week is a pivotal week as noted on (Bd 8800 ~ posts 8728, 8416)
With record high short and oversold market on daily, we will likely have a sharp rally.
6/27/2008 +/- is a turn date.
On weekly price action, favorable outcome is that markets consolidate in the LT triangle formation with wave C instead of breaking the lower sym triangle formation to lower target 10780 +/-. Nevertheless, we will likely see a bounce from the lower TL support after the recent pull back. For DOW, it is 10% pull back in one month in symmetry price actions from Mar 2008 low.
Good luck
Ref: Previous post on the 6/6/2008 turn date
http://beta.investorshub.advfn.com/boards/read_msg.aspx?message_id=29850382
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