[RT] Thu Gap and he Dow

["Chris Cheatham" <chrischeatham@xxxxxxxxx>]

I am not normally tuned in to analog type analysis, but this is very 
interesting. see the attached Dow chart showing the top in 1929. Look at the 
very large gap after the first 5 wave decline off the top. Looks like Thursday 
huh? Wave c rally stopped at 61.8 retracement and 50 day moving average. The 
current chart leads me to believ that 50% retrace./50 day MA and an andrews line 
will stop it around 10700-10750. The first leg down in '29 was 23 days, whereas 
this one was 34. The '29 rally was 5 days. Wouildn't 8 days take us to option 
exp.? Another thing of note -- if you look at the dow adjusting for the dollar 
effect -- as non US investors see it -- the rally went to new highs in a w5 
which stopped conveniently on a fib prjection from the 74 low. Finally, most 
world markets look to be correcting 5 wave declines just like the Dow and 
S&P. Unless you can convince yourself that the whole world is experiencing 
5th wave failures at the same time... Personally, I think I am getting a little 
bearish here. ;-) 
 
Have a nice weekend all, 
 
Chris 






<IMG 
src="cid:{9D178F6B-912D-4135-95FB-53749B4381BF}/Dow1929.gif";>



To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx





Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.

Attachment: Description: "Dow1929.gif"