Technician
Short

Charts Always Tell the Truth

INDEX:DOWI   DOW Industrials
1070 12 24
I though that a chart worths Million words :)



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I think given the change of price paradigm, It makes sense to also look at the chart in Logarithmic otherwise the price projections could be underestimated.
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But I also think there's a period of correction.
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Ever heard of Martin Armstrong's ECM Model??
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innovative1 innovative1
1998.55 - 2007.15 - 2015.75
8.6 year cycle
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Sorry for the bulls, but we are going down in 2014!
There is no structural change in global finance at all. Things are heating up, new bubbles are created. Some indicators are more badly than just before 2008. Gold is bottoming out, etc, etc.
In my perspective for the short term we gonna see a corrective move to 14000-14500.Then we bounce up to 15500, some sideway movement for a month of so and then we make a big fall to 8000 or even lower.

We need triggers and they will come! ;-)
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Technician TOP redbull1973
Agree :). I bet its going to be a recession :)
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there's dough for the bears in dem down days for dow though... :-)
looking for individual stocks?
are the biotechs always the first to crumble...?
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As far as I am concerned there is no one specific way to go. Also depends on the type of the coming trigger to this selloff! A recession ? financial crisis?
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ZigaZaga PRO Technician
Not going to speculate? I'm only short GPS as equities are concerned, though watching a long list...
This could be the reversal - I see Dow going well below 16000 this week - been waiting for those long red candlesticks...
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if I should choose, i would choose financials and consumer discretionary.
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