Looking at the various time frames on multiple charts it’s looking like we could be bottoming today for the short term. I’ll do another video when I get the chance but I’m leaning toward a choppy rally to start here soon.
I’m with you on this. I admit I fell for RDL stuff for awhile but realize now he is just a misinformation campaign like everything else. How funny is it that he had some winner picks while on vacation that he just so happened to not share with us. I could actually excuse that but he has gone on now to completely ignore his biggest failure to date which is EARH. He didn’t even acknowledge it in his last letter which is exactly how the scammers like awesome penny stocks operate, only talk about the winners and completely disregard anything that is embarrassing, which as of now he has not ever said to get out of EARH, only that it is in limbo waiting for funding which is likely to never happen. But regardless that leaves it as a hold in his “portfolio” in anyone’s way of thinking and he no longer acknowledges it.
So far the market isn’t give us a clear pattern that I can see. It’s stuck in a falling channel. It could continue down all the way into the 17th and frustrate everyone I guess? However, I do see a “Head and Shoulders” pattern forming, and we’re holding support on the 200dma, so possibly we’ll start some rally here soon?
The only problem is the lack of positive news to get the rally started. As long as this debt ceiling issue is hanging over the market unresolved it’s going to be tough for any pattern to play out, so I wouldn’t get too excited just because you see the H&S pattern as everyone else does too.
Well we’ve hit the 1656 area Ali mentioned……
Dow Jones Charts Update: http://niftychartsandpatterns.blogspot.in/2013/10/dow-jones-analysis-after-closing-bell.html
Looking at the various time frames on multiple charts it’s looking like we could be bottoming today for the short term. I’ll do another video when I get the chance but I’m leaning toward a choppy rally to start here soon.
QQQ Testing support zone: http://niftychartsandpatterns.blogspot.in/2013/10/qqq-testing-support-levels.html
Dow Jones Analysis After Close: http://niftychartsandpatterns.blogspot.in/2013/10/dow-jones-near-200-day-sma.html
ES Violates support levels: http://niftychartsandpatterns.blogspot.in/2013/10/es-violates-support-levels.html
SPX Update… http://screencast.com/t/MCqw1jbzCoBs
SPY Analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2013/10/spy-analysis-after-closing-bell.html
I’m with you on this. I admit I fell for RDL stuff for awhile but realize now he is just a misinformation campaign like everything else. How funny is it that he had some winner picks while on vacation that he just so happened to not share with us. I could actually excuse that but he has gone on now to completely ignore his biggest failure to date which is EARH. He didn’t even acknowledge it in his last letter which is exactly how the scammers like awesome penny stocks operate, only talk about the winners and completely disregard anything that is embarrassing, which as of now he has not ever said to get out of EARH, only that it is in limbo waiting for funding which is likely to never happen. But regardless that leaves it as a hold in his “portfolio” in anyone’s way of thinking and he no longer acknowledges it.
So far the market isn’t give us a clear pattern that I can see. It’s stuck in a falling channel. It could continue down all the way into the 17th and frustrate everyone I guess? However, I do see a “Head and Shoulders” pattern forming, and we’re holding support on the 200dma, so possibly we’ll start some rally here soon?
The only problem is the lack of positive news to get the rally started. As long as this debt ceiling issue is hanging over the market unresolved it’s going to be tough for any pattern to play out, so I wouldn’t get too excited just because you see the H&S pattern as everyone else does too.