With every nutcase with a website out there spreading BS about markets, and grossly misrepresenting what a free market is, I thought I should post
this video from a guy who does technical analysis. Pay attention to what he says. I'm getting sick of people saying things are fine when the "DOW"
goes up 400 points. The DOW represents 30 companies, and ONLY 30 companies, This market volatility is NOT normal. Something is coming, and most of you
are not prepared. Though I think he is being a bit dramatic with the timing, I believe his analysis in general is accurate.
All this intervention, IE: Central Banking, The Fed Dropping rates to rock bottom, Regulations for speculators, Regulations on lenders, Stimulus
Checks, Fed's taking over financial leviathans because they are "too big to fail", has made this whole situation a lot worse than it had to be. And
we are going to find out the hard way that central economic planning was the worst idea ever conceived by man.
All Markets are free, period. And the market will have it's correction, whether the Fed or anyone else wants it or not.
Good contribution for people to disect. Everyone should at least take a look at it. I am particularly impressed (with whether you agree with him or
not) how he has accomplished expaining the charts ins away everyone can understand.
Here's another example that underscores the reliability of the head & shoulders dandruff alert. You'll see where the pattern was confirmed
with a break of the neckline back in Sept 07...and the predictable result.
Just scroll-down and click-on the 1st chart. Be sure to check-out the 3rd chart also.....anomalous activity in the foreign purchase of treasury &
agency debt recently (Dollars). A near vertical spike in the last week alone
Originally posted by Illusionsaregrander
In that first chart in your link, the dollar one, I can see the head and shoulders, and also the five waves. Does that mean for the dollar now is
time to buy? Is that how it correlates to the video?
I only posted that Dollar chart to serve as an additional frame of reference for the H&S reversal pattern as a high probability indicator. Caveat
Emptor: If they fail to confirm...all hell can break-loose to the upside.
I really enjoy having a place to beat-my-jibs on the general state of the economy, market fundamentals...or on my bearishness/enthusiasm for
individual sectors...but I'm not very comfortable issuing buy/sell signals, stock pics, or discussing the specific details of my trades here on
ATS....so please forgive me on that one Illusionsaregrander
Now if you thought the 2006 H&S top looked like some kind of demon-spawn...well, you were right...have a peek at it's mother...the 2002 H&S
formation that launched the Dollar bear...that's the
little feller there on the right.
Adds a bit of weight to the importance of that break in the 80 neckline. From a technical viewpoint...that's the Dollars dilemma.
Here's a Dollar chart showing the 2006 H&S with an Elliott Wave overlay (3rd
chart down)... commentary by Robert McHugh. If you want to play around, you can try to identify the patterns, then extend them through 2008.
This content community relies on user-generated content from our member contributors. The opinions of our members are not those of site ownership who maintains strict editorial agnosticism and simply provides a collaborative venue for free expression.