simple trading band targets....

have to revise my targets now.....


if you draw the channel envelope around the DOW for the last 5 years you gat a very nice //el channel whose upper and lower limits are approx 14500 and 12000 respectively....


seeing how last night's efforts effectively hit the lower 12000 limit....



my new channel (which is still an uptrending channel btw) has to be set at lower levels which start around June 2003, and give upper and lower limits of 12500 and 11000 respectively......


if 11000 is breached, that's when we're in la-la land folks.... we ain't in irrational territiory yet by a long chalk - and I hope we don't get there.....