All Entries Tagged With: "retracement"
Prechter Stands Alone Again… He’s Done the Math
By Neil Beers So Bob Prechter is bearish again. That may be no surprise to some, but recall that Prechter was about the only bull on February 23 of this year when he covered the short position he had recommended on July 17, 2007. That was nearly two years later and 800 points lower in [...]
Market Overview – August 8th, 2008
In my last Market update I talked about how I thought we would at least trade up close to the 12,000 area before continuing lower. Friday’s big move confirmed my outlook as the Dow closed above the prior swing high that was set in mid-July, which was also coincidently the 38% retracement. I think there’s [...]
Barf! Market Overview – June 26th, 2008
The markets tossed their cookies today, the big three all down around 3% or more. My call last week was that the market (DIA) may pause just long enough to allow the 8-day moving average to catch up, and it did just that before falling off the cliff. Quite honestly I wasn’t expecting anything that [...]
Market Overview – April Fools Day 2008
With Authority! Today the market made it’s move like we were forecasting last week. It took a couple days to ponder but today was the day it shot out like a canon to the upside closing up by almost 400 points. Advancing stocks outnumbered decliners on the NYSE by an astounding 5-1. Yesterday we traded [...]
