4xForecaster

Technical Analysis: Coming To A Narrow PRZ | $DOW #DOW

INDEX:DOWC   DOW Composite
Friends,

A very short note here regarding the Dow Composite             Index .

Using proprietary patterns, an unusually narrow potential zone of reversal is defined. All of these can be verified by major or minor Fibonacci levels as well.

Both mean and average are defined as well. By reverse engineering a Fib-based retracement at the 38.2 significant level, this would point to the flat topside of a rising triangle from which price broke out following last mid-impulse consolidation.

All this seems to converge and should alert both pattern traders and the occult market geometrist of an unusual convergence of technical events.

Cheers,

David Alcindor
Predictive Analysis & Forecasting
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: admin@KADAInstitute.com
All updates on https://twitter.com/4xForecaster
15 MAY 2014 - Update:

ALL targets hit - Bearish outlook prevails.


David Alcindor
Reply
20 MAY 2014 - Update:

With a high posted at 5861.15, I can now say that ALL of the targets produced by either prop patterns or prop model, have been hit - All came into a very narrow PRZ.

At this point, there is no other comment, except those just posted within the past 1-2 hours in related $COMP charts.

Model remains bearish - A 38.2-Fib = 4451.44 defines a probable level of support. I will wait and see what the model offers as an alternate bearish target.

Cheers,


David Alcindor
Predictive Analysis & Forecasting
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out