|lilmoe ||Nov 20, 2008 7:39pm | Post# 140085 |
I was thrwoing fib time extensions on charts on the weekend ... nov 25th came up on a bunch . i thought market rally till then and drop ... bvut now i think market drop till then and then rally .. ties in with bail out meeting also now
makes sense to me now. i was thinking the same thing. i heard about the same date from other people i know and online.
to be honest, i never expected things to go down this fast, i was expecting a large rally before YM tested that area.
i believe 7200 (give or take a couple hundred pips) SHOULD hold and we should see a major change of trend on YM going back 11000 region forming a right shoulder on the monthly chart , and start a slow and VERY sloppy move down to fully form a monthly head and shoulders pattern that will eventually reach 3500 in the next 4-5 years... sounds crazy doesn't it?
the carries are no good anymore, interest is not paid, at least not for GJ... this should have a large impact UNLESS we see some serious bank and gov. intervention.