Oct 07
Thursday
Dow 11000
Gravitational pull of round number 11000 makes it an inevitable target. Even when it got to 10920 last week, we were very suspicious that markets fell back - 80 points shy of 11000, to turn back and head down is unusual. First hit of 11000 usually pulls back, probably the force of the bears orders to short at 11000 - but usually surpassed to the upside transiently to take out bears with stops. Time will tell - watch 11000 get taken out.
AUD/USD is also getting so close to 1 its going to get there.
All entries filed under this archive
The Power Of Round Numbers
1 response - Posted 03.05.09
Our observation of the Power of Round Numbers in indices is not a new one. Forex trader Dick Weiss made similar observations trading Forex for more than ten years, and summarised his findings in the article below. Our "Virgin" round numbers theory were also validated by his independent observations, ie ...continue
1 response - Posted 03.05.09
Our observation of the Power of Round Numbers in indices is not a new one. Forex trader Dick Weiss made similar observations trading Forex for more than ten years, and summarised his findings in the article below. Our "Virgin" round numbers theory were also validated by his independent observations, ie ...continue
Top Story March 2009: Dow Jones Goes below 7000
2 responses - Posted 02.26.09
"The worst is over. We have bottomed and have turned the corner for now" - That is the word out there, and the media is using every excuse to generate a rally. The Inflationist believes otherwise. The FTSE rallied hard today on RBS's "better than expected" losses of $27.7 billion ...continue
2 responses - Posted 02.26.09
"The worst is over. We have bottomed and have turned the corner for now" - That is the word out there, and the media is using every excuse to generate a rally. The Inflationist believes otherwise. The FTSE rallied hard today on RBS's "better than expected" losses of $27.7 billion ...continue
