My analysis of the US Indices... please tell me what you think :)

[Abrah]

My Analysis (Tuesday 30 November, 2004):

Hmmm.... The first day of the week shows signs of a outside reversal. This could mean that the 4th wave still have further to go and we are looking at an elongated sideways pattern to to last for the next week or two. Currently the Dow Jones is still trading within the same support and resistance dead lock, perhaps now, we will see some movement outside these restrictive levels.

Looking at the Elliott Oscillator there are several pattern emerging. The Red line has peak quite high across the indexes and dropped back to the mid 0 level. This is an indication that upward momentum is slowing rapidly. The Blue line is also beginning to turn downward which reinforces the possibility that a swing has, or is about to occur.

If the red line kicks upward again from this point we should see a small drop followed by another rally. For more information on how to read this oscillator please go to Elliottician.

DOW JONES

S&P 500

S&P 100

NASDAQ

For a brief overview of our methods and chart interpretation please go to our educational briefing. If you have any thoughts as to future changes or praise please send us an email via the online form at: http://www.investorflash.com/enquiry.aspx. Feel free to visit InvestorFlash.com for more daily technical analysis.

 

[FetteredChinos]

crayons.


so are you plumbing for a rally beyond 12,000 over the next few months? or have i misinterpreted the blue line in the first chart?

 

[TheBramble]

Well, I think there's something there for everyone....

 

[FetteredChinos]

im a big fan of the trapezium-in-a-square pattern..


im seriously suffering from information overload.

how did anyone make money before all these indicators came along?

 

[boy]

😆

 

[Strategic Trader]

technical analysis for amateurs is to give them a more logical and repeatable basis for losing money, and also something to do whilst they are losing money, and of course make purveyors of technical analysis a few bucks as well

 

[roguetrader]

That went down well then 😆

 

[FetteredChinos]

if only the same amount of effort and time could be spent learning to trade.. or perhaps lowering a golf handicap etc...

 

[SOCRATES]

Don't be funny Fettered, people do not want to learn to trade, they are too busy looking for shortcuts and chasing the holy grail, they are not interested in learning. Learning is boring, tedious, dull, period. Too much effort involved, besides, my conviction continues to harden that in the final analysis, traders are born, not made.

 

[FetteredChinos]

a bit like geography GCSE...

 

[SOCRATES]

a bit like geography GCSE...

Yes, that's right, specially when you consider the physical map of the world never changes, but the poitical map keeps on changing all the time.

 

[commanderco]

my conviction continues to harden that in the final analysis, traders are born, not made.

Does this mean that you are awaiting reincarnation Soc.

 

[SOCRATES]

Does this mean that you are awaiting reincarnation Soc.

No, it means exactly what I say in my complete post above, and, by the way, the passage of time and my diligent observations only serve to futher harden my conviction that individuals specifically tend to either have a natural affinity for trading, or not at all.

And if they haven't got a natural gift, they haven't got it, period.

And insofar as the great majority are concerned, no amount of pushing and shoving, or encouragement, or example, or mentoring, or tuition, or lecturing, or explaining, or illustration, or example, or general or particular or specific pointing out in the correct direction can remedy the irremediable beyond a very basic and clumsy level, beyond which they cannot progress.

Reincarnation does not come into it, what does come into it is the now, and not the next life.

Funny it is not, for those unable to cross over to the other side of the glass despite all their efforts. It is reminescent of a bumble bee trapped in the conservatory, that despite the doors and windows left open for it to escape, and despite gentle encouragement for it to do so, persists in banging its head against the glass, unaware that it is a pane of glass, but repeatedly insisting nonetheless.

This does not mean that people cannot learn, but beyond a given point they just can not be taught, as they generally succeed in them making a mess of everything, except for the hand picked, the very few.