Saturday, October 16, 2010

Attractor at 11262 is going to be hit soon

This line of attraction we have been following for months, is just about ready to be hit. There's not much further to go. The Dow right now sits at 11062, and that 200 points can be easily made in a day.

My opinion is that it will make a sharp run above the attractor as it pushes through, followed by a retracement back down to 10769. After that happens, we will begin to see a serious move on upward as the stock market is now due for a true bull market move upward. Not a spike upward, mind you, but a market that "climbs the wall of worry."

The next attractor above the 11062 mark is at 11888 and it's a heavy one, with lots of resistance. Watch for moaning and wailing when we come to that level.

Thursday, October 7, 2010

Bring It On, Folks

Let's get this thing going. As soon as I get 20 followers, I'll start posting each weekend.
When I get 100 followers I'll post daily.
Then you will have short-term trading advice straight from the TradeStation expert, and author of the new "TradeStation Made Easy!" to be released in January.
Want to read the first chapter? and click on the link near the middle of the center page.

Dow Still Sitting Under 11262 Attractor

Dow (INDU) is still working on making its way up to the 11,200 - 11,300 level. It will get there soon. And probably make a quick move to do so. Once it does, watch for more downside action as the markets struggle with the Attractor, which will become resistance.
    It will take a few weeks for the markets to settle in and start treating the 11,200 level as support. When that happens, we will finally see a run for previous highs.
    Keep in mind that because of the prominent Head-and-Shoulders pattern on the monthly chart, we will probably see the Dow dip again into the 8,500 area and chop around between there and 11,000 for several years to come.
     Now is not the time to be playing the markets, unless you do it short-term, and are a seasoned pro.