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so its either a slow rate of increase until the end of the year(red),or a more rapid increase(blue channel).Plus if we break out of the mini-ellipse(which has to be close)...more bullishness.Margin debt on Monday,I believe.Seeing that increase would add another 50 -75 S&P points.Cheers.
also...it was brought to my attention that the Dow has just broken out of a 6 month sideways consolidation pattern...which is usually good for many hundreds of points to the upside...and a late ersatz peace agreement with Iran tonight wont hurt.Cheers.
The ultimate target on DOW is the red resistance from my long term charts. It is around 16120-16150. A Santa rally is given anyway so I guess no serious correction before the new year.
Bouraq check out the chart of the last half of 1998 going into Feb 1999.Six month consolidation...like now.Then a 10% move up in 2 months.Sure looks like a repeat.
so its either a slow rate of increase until the end of the year(red),or a more rapid increase(blue channel).Plus if we break out of the mini-ellipse(which has to be close)...more bullishness.Margin debt on Monday,I believe.Seeing that increase would add another 50 -75 S&P points.Cheers.
ReplyDeletealso...it was brought to my attention that the Dow has just broken out of a 6 month sideways consolidation pattern...which is usually good for many hundreds of points to the upside...and a late ersatz peace agreement with Iran tonight wont hurt.Cheers.
ReplyDeleteThe ultimate target on DOW is the red resistance from my long term charts. It is around 16120-16150. A Santa rally is given anyway so I guess no serious correction before the new year.
ReplyDeleteBouraq check out the chart of the last half of 1998 going into Feb 1999.Six month consolidation...like now.Then a 10% move up in 2 months.Sure looks like a repeat.
ReplyDelete