This Dow Jones Total Market chart shows a point between the log and linear.
Wednesday, November 4, 2009
DWC Log and linear
Tim Knight is strong on using log scale. Others prefer linear, sometimes for shorter timeframes.
This Dow Jones Total Market chart shows a point between the log and linear.
And a hell of a confluence of trendlines like a laser war and the DCW index totally tapped its 50% Fib line. Amazing, and thank you Mr. Fibonacci. You rock almost as much as Bernoulli.
This Dow Jones Total Market chart shows a point between the log and linear.
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Looking a the futures this morning it looks like we are going to get our bounce Steveo. Question is... how much? I personally can't see more then 1060, with just above 1050 being more likely.
ReplyDeleteSo, let's split the difference and call it 1055. I'll be looking to go short around that area. Hopefully we will hit it today before the Fed's talk.
Red
RDL---looks like 1062 was hit....now at 1055, so you got your call.
ReplyDeleteBTW if you hit subscribe by email in the comment section it will notify you of new comments.
Now what I saw in past Fed days is a wild whipsaw, up down up in indices...sweeping stops in both directions, before a big ramp up.
What can the Fed possibly do...raise rates and throw Obama's beloved stock market price level as measure of economic success under the bus?
Hand out some other give away program?
They are creative though.