Short Term Trading Member Forum

[golfin]

This action is most closely resembled by the week 3/29-4/7 2005. It was followed by a 600 point drop the following week. That was BEFORE an ominous HUGE head and shoulders pattern was staring everyone in the face as it is now. A drop to 9700 on the weekly is a minor blip...not a crash. A drop to 9700 would simply be a C wave completion, and would be my MINIMUM target here.

http://stockcharts.com/def/servlet/SC.web?c=$INDU,uu[m,a]waclyyay[pb50!b200][vc60][iUp14,3,3!La12,26....


I expect a retest of the high from yesterday at least before heading down.
(Although I have 1/2 a short position already)