OE杀牛 - Part 2

jiuguangw

Everybody is so into 60-minute charts these days and no one is looking at daily - here's something interesting:



We're near the top of the channel established over several months - target is 1060-ish, which is consistent with Cobra's A=C target. Plus, Jan-15 is a turning date in the moon chart, and mid-January is a turning date consistent with the 1929 crash.

This is why I think a correction will take place before the next fib target at 1200-ish. I think the probability of breaking above this channel is small - if we're going to 1200-ish, consolidate and wait until the channel reaches that area is more likely.

熊熊们加油！

summer123

jilier

oldpigwang

1# jiuguangw
Is this on the FA of earning fall?

buctusa

Bullish!

X!nG

Bears are simply hopeless...

hellokitty

thanks!

jannychai

thanks

sooners

1# jiuguangw


thank you

newyorker

Could you please elabrate its similiarity to 1929 more? Thanks a lot!

newyorker

OE kills cow,  it is too late, tomorrow is OE, it seems to be killing bears :)

jiuguangw

Could you please elabrate its similiarity to 1929 more? Thanks a lot!
newyorker 发表于 2010-1-14 21:21

Well, I don't have a chart to show you - but, if you download the 1929 data from somewhere, you can do some simple calculations. I did two - the key turning date (in terms of trading days) and the price level (in relation to Fib levels). The first gave me the mid-January target, the latter told me that the reversal came after overshooting the 50% fib (but fell short of the 62% fib)

As for OE, don't take this too seriously - the title was meant to be a joke, I only want to highlight the 1160-ish level as a potential reversal. The time is not as important - it could be as early as tomorrow or maybe next week. The point is, we're only 10+ points away and anyone who takes a heavy long position right now is insane. I'm day trading until my theory is confirmed (or not).

newyorker

thanks a lot.    look at Cobra's moon chart,  we could be topping any minute now.  I am ready for it.

牛熊

coexist

fishpet1

thank you very much