double top comfirmation, page-4

Hi Dingo, i suppose it's all how you look at it. taking a weekly view the DOW has now retraced 50% of it's recent run. that is a likely bounce point as you know. Add that to the fact that the DOW has breached the lower Bolinger on the daily chart. The only time it usually does that is on those horrible horrible black days like the ones we had in August, January and March. Out of respect for the Bolinger I would expect at least a short term bounce in the DOW this week. But coupled with the fact that we are at the 50% retrace point on the weekly then I deduce this may possibly be the bottom.