actio-et-reactio
Balance is but a brief transition between extremes.
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Monday, October 06, 2008
the INDU loves 50% of anything
very cool bisect and fib action of the INDU, partic. the fibs at the 50% and 150% of the 1999-2002 lumpen accumumlation range. I'm not so sure it's an accumulation range, but the action resulting from it sure did take off...so someone was buying!
This is a good zone for a reaction, the proverbial dead cat. But I'm not calling a "bailout success reversal". ixnay! ixnay!
By the way, there's a sort of bisect expando-zone price is headed into...perhaps some sort of drifting up, than BLAM, smack down again?? Who knows...just what the chart looks like to me. I'm in cash and conservative. While not doomsaying, I'm also not feeling frisky and adventurously speculative about the market in here.
Labels: bisects-forks-medianlines, Dow-INDU, fibonacci
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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