Thursday, May 27, 2010

May 27th Intraday Dow chart analysis (Update after close)

As you can see from the chart above, we are at the highs of the session. However the Slanted "W" pattern indicates we will go below the lowest leg of the "W" in the time left today. I will update this again late before the market closes.

Ok, here is the chart below for the full day. I drew 2 red lines. The first is the line I drew above except I have drawn a second one to show the move up. You will notice that while we did not go lower as the slanted down "W" pattern suggested, we did go up a while and then down to the exact same level of the "W" as signified with the arrow. This stuff works if you are patient.

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