Thursday, October 15, 2009

DOW JONES 10000!

DOW JONES hit the 10000, doctors recommended if Dow has erection and stays above 10000 for 4 hours or more please call 911 or see your doctor urgently, HA-HA ;-)

OK! lets get serious. Dow Jones 10000 does not mean anything from technical stand point. If Dow gets above 10300-10400 it would be very positive. In my opinion major level would be 1200 in S&P500, If we get above 1200 bears have to hibernate for very long time.

Here is two scenarios you decide which one makes more sense, I personally go with Elliot wave.

Elliott Wave Analysis, Bearish Outlook (Part-3) originally posted in August 28, 2009:

DOW JONES Inverted head and shoulders, originally posted (July 25, 2009):
Bullish scenario, Inverted Head & Shoulders Pattern