re: new homes increased 4.1pc DOW is looking toppy
1. DOW Fibonachos high should be 11698 ( 7/6/06 high , July low)
2. WEEKLY volume is decreasing significantly. The last time the DOW approached its highs in May weekly volume was averagiong 1.8 billion. Now weekly volume is average around 1 billion !!!! A 55% reduction in volume
3. The XMJ is hitting resistance around 9770. This is gap the XMJ had to fill Clark Kent. It may still go higher as BHP and RIO have not covered their gaps yet. BHP target ($26), RIO ($71)
4. XFJ target is 6125 then down. 0.618 of the last leg
Therefore the XJO should top either today or tomorrow at around 5110 - 5130 before the next leg down
re: new homes increased 4.1pc DOW is looking toppy1. DOW...
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Last
7,971.1 |
Change
105.600(1.34%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,865.5 | 7,976.9 | 7,865.5 |
| XJO (ASX) Chart |