AI
Sunday, February 01, 2009 1:02:06 PM
Indexes weekly charts show Fairly good signs .
I see some fairly good signs in the weekly chart close of last week.
The DOW has close with a Inverted Hammer: A one day bullish reversal pattern. In this case would be one week since it is on a weekly chart.
The S&P index close with a Inverted Hammer: A one day bullish reversal pattern. Same case here one week bullish reversal.
The NASDAQ has close with a Gravestone Doji: A doji line that develops when the Doji is at, or very near, the low of the day. In this case the low of the week.
So I would think we have a up week or a few up / sideways weeks than a down for a final time to close the gap on the NASDAQ and the still small gap on the S&P and DOW.
The day that this takes place say 3 to 4 weeks from now. This will mark the beginning of a market rally on into the summer.
The chart indicators ma-5 and ma-10 on all the weekly index charts will cross the ma-20 on the weekly chart and the blue 20 signal line on the 12,26,9 MACD geen fast line looks to cross. Looking at previous history in weekly charts we always had a run when the ma-5 cross the 20 on a weekly. Now about the gap, I also have found most of the time before the run the gap was close. The few places that I found the gap not close it had came down in the following year and closed the gap than channel for 6 months to a year and then broke out for a long term 7 year or better ride. So this sort of meets up with my monthly chart theory for early to mid 2011 for the ride. So if next month those gaps do not close in the daily charts. I see you back there next year. For now I see the Dow peak at 10700 to 11900 area tops. If the market was to hang down and channel through and not perform with the chart reads it would be the first time from what I can find in the previous 20 years that it did not do what it showing in the chart.
My Opinion
GeauxFish~
Dow weekly chart
I see some fairly good signs in the weekly chart close of last week.
The DOW has close with a Inverted Hammer: A one day bullish reversal pattern. In this case would be one week since it is on a weekly chart.
The S&P index close with a Inverted Hammer: A one day bullish reversal pattern. Same case here one week bullish reversal.
The NASDAQ has close with a Gravestone Doji: A doji line that develops when the Doji is at, or very near, the low of the day. In this case the low of the week.
So I would think we have a up week or a few up / sideways weeks than a down for a final time to close the gap on the NASDAQ and the still small gap on the S&P and DOW.
The day that this takes place say 3 to 4 weeks from now. This will mark the beginning of a market rally on into the summer.
The chart indicators ma-5 and ma-10 on all the weekly index charts will cross the ma-20 on the weekly chart and the blue 20 signal line on the 12,26,9 MACD geen fast line looks to cross. Looking at previous history in weekly charts we always had a run when the ma-5 cross the 20 on a weekly. Now about the gap, I also have found most of the time before the run the gap was close. The few places that I found the gap not close it had came down in the following year and closed the gap than channel for 6 months to a year and then broke out for a long term 7 year or better ride. So this sort of meets up with my monthly chart theory for early to mid 2011 for the ride. So if next month those gaps do not close in the daily charts. I see you back there next year. For now I see the Dow peak at 10700 to 11900 area tops. If the market was to hang down and channel through and not perform with the chart reads it would be the first time from what I can find in the previous 20 years that it did not do what it showing in the chart.
My Opinion
GeauxFish~
Dow weekly chart
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Keep your eyes on the cash
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