Big move coming ??
Sunday 04th of December 2005 03:17:53 PM
I still think a huge move is coming for the Dow Jones Industrial Average. Not a one day wonder, but more like a steady sloping upward trend.
There are a huge number of buy stops just above 11,000 , that once activated will send the market a lot higher than most people probably believe at the moment.
The chart of the Dow since 2000 is quite compelling. The structure looks supportive of this type of move. But here is the kicker, although we will see very large numbers on the Dow (12,000, 13,000, 14,000, 15,000 ….) I suspect by the time we get there inflation will be worse than it is now. So the large numbers may be deceiving.
Anyway, here is an interesting link I found from Barton. He writes and charts about the Dow, Nasdaq and S&P. Needless to say I agree in good part with some of his arguments.
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