Disliked{quote} Technically, from top to bottom was nearly 20 years rather than only ten....just saying....Ignored

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Disliked{quote} Technically, from top to bottom was nearly 20 years rather than only ten....just saying....Ignored
Dislikedhi Igrok, in your opinion do you think we will see a new hi in DJIA prior to your descending forecast ? i.e do you see another opportunity for accumulating short positions either euqal to or better than your prior estimate ? this question comes in alignment with enough people being on the wrong side of the trade to cause the emotional response warranted for your prior target objectives.Ignored
Disliked{quote} That's true,.... provided you don't look at unemployment, or consumer spending or GDP or consumer confidence or basically any other economic indicator..... As a professional trader and capital manager for 26 years, surely you can't believe that?Ignored
Disliked{quote} then take into consideration the inflation and the change in the USD buying power since then and you get the whole picture about this particular indicator which shows that the economy hasn't actually changed much over the last 10 years either...Ignored
Disliked{quote} So I agree the prices of the stock are usually inflated and controlled by outside sources. Having said that, I do not believe we will ever see the DJIA at 6000 again....Ignored
Disliked{quote} it case it really turns out to be a diamond eventually then the slide back to under 6000 level on the Dow will be inevitable regardless of any current fundamental reasons or believes... it works pretty much like some law of physics... if no diamond though then it might be some other scenarios with a drop to under 17K-18K at least still being a must...Ignored
Disliked{quote} The right side of the diamond just looks like a Flag pattern to me, with the same outcome....either a continuation or a fail. Heck, you can get a fairly accurate direction with a simple trend line break. I just don't understand why the belief that 5000 would be the target, when on a weekly or monthly chart there are NUMEROUS support levels long before you get to that point. Do you have an example of when a Reversal Diamond indicated a drop of more than 75% (or even 50%) of a stock? Maybe seeing the full scenario would help understanding....Ignored
Disliked{quote} take a look at the picture in the first post of this tread... according to that projection the right side of the potential diamond hasn't even been build yet... only the left one seems to be complete by now... though, the general diamond rules are simple... a continuation diamond always indicated the middle of a trend while a continuation diamond indicates a full reversal which normally leads to the previous trend being completely covered... in this particular case the trend has stated in January 2009 at 6470 level thus making it a legit...Ignored