European Debt: An Elliott Wave Perspective

Market Overview – September 29th, 2008

September 29, 2008 at 8:44 pm | Trade Artist | Comments 1

It’s been a while since I’ve posted a Market Overview since I’ve been focusing so much on trading with the prop firm I recently joined. I’ve found that controlling emotions in the daytrading game is much more difficult than the swing trading game. The funny thing is the analysis is the same, it’s just the psychological part that takes a little more discipline.

The below chart is the Dow Jones monthly. The last time I posted I was saying we have a lot further to fall before the decline is over. You may have thought that was an understatement, but I actually think we’ll fall to at least the 9800 level, if not 8900, before this is all said and done. I marked those areas on the chart as those are previous areas of consolidation that should bring some bulls back in. Don’t be surprised if the fall is caught in one of those areas at the same time the chart runs into the 200-period moving average.

Filed Under: Market Overview

Tags: bulls • consolidation • controlling emotions • discipline • Market Overview • swing trading • trading game

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Swing Trading » Market Overview - September 29th, 2008 says:

September 30, 2008 at 1:12 pm

[...] the rest of this great post here [...]

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