Welcome to the Trader-X blog!

> TRADEthemove.com - my thoughts
> meditationSHIFT (formerly "tad")- just say "om"

Tuesday, October 14, 2008

Dow reverses at the 50% level

Yesterday I showed a chart of the Dow over the past 20 days and stated "...we are approaching what I call the "Retracement Zone", and this area is likely to provide solid resistance".

Here is the updated chart - as you can see the DJIA opened this morning, tagged the 50% retracement of the 9/19 high to the 10/10 low, and promptly reversed.



_______________

1 comment:

Anonymous said...

Way to call it ahead of time X.

Let me be the 100th to say welcome back, you were missed.