I have been … I have been thinking the exact same thing. The Australian market is doing the same.
Although we did not have the summer sell off this market has been going sideways for 3 months now. I think the picture is pretty clear we have seen a 50% retracement and now we are about to go into stage 3. This last year or so really reminds me of 1972-1973 just when everyone thought that the market was going higher it fell over and lost over 50% percent of its value
The video and sound … The video and sound quality of this video is spectacular as compared to a lot of your recent videos. Whatever you’re doing Brian, PLEASE keep it up! Cheers!
This market is very … This market is very similar now on the daily chart to the look the 2nd week of Dec 2007. That is when it sold off very hard and then squeezed a huge rally which was short of the Oct/07 highs at that point. Then we saw the 50 day MA as resistance and was newly declining. It also rallied over the 61.8% retracement before rolling over.
The only difference was it had some big previous selling in the summer of 07 before we made those all time highs.
Technical analysis of the US stock market averages.
February 24th, 2010 at 7:08 pm
the tuesday …
the tuesday morning consumer confidence spectacle brought indexes down.
February 24th, 2010 at 7:08 pm
Brain Shannon is …
Brain Shannon is sensational
February 24th, 2010 at 7:08 pm
I have been …
I have been thinking the exact same thing. The Australian market is doing the same.
Although we did not have the summer sell off this market has been going sideways for 3 months now. I think the picture is pretty clear we have seen a 50% retracement and now we are about to go into stage 3. This last year or so really reminds me of 1972-1973 just when everyone thought that the market was going higher it fell over and lost over 50% percent of its value
February 24th, 2010 at 7:08 pm
The video and sound …
The video and sound quality of this video is spectacular as compared to a lot of your recent videos. Whatever you’re doing Brian, PLEASE keep it up! Cheers!
February 24th, 2010 at 7:08 pm
5 Stars
5 Stars
February 24th, 2010 at 7:08 pm
Hi Brian, the sound …
Hi Brian, the sound quality of this video is MUCH BETTER than your recent videos. Thanks for the analysis!
February 24th, 2010 at 7:08 pm
This market is very …
This market is very similar now on the daily chart to the look the 2nd week of Dec 2007. That is when it sold off very hard and then squeezed a huge rally which was short of the Oct/07 highs at that point. Then we saw the 50 day MA as resistance and was newly declining. It also rallied over the 61.8% retracement before rolling over.
The only difference was it had some big previous selling in the summer of 07 before we made those all time highs.