“Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that developed before the Depression in 1929, then with the recovery in 1930 we had another head and shoulders pattern that preceded a fall in the market, and in the current Dow situation we see an exact repeat of that environment,” Guppy said.
The Dow retreated 457.33 points, or 4.5 percent last week, to close at 9,686 Friday. Guppy said a Dow fall below 9,800 confirmed the head and shoulders pattern.
The Shanghai Composite is seeing a very rapid collapse, falling below 2,500, which suggests the major fall in the Dow, he added.
In the European markets, Guppy says Frankfurt's Dax is witnessing a different pattern to London's FTSE.
More Here..
More Bad News for BP as Arsenic Levels Rise in Seawater Around the Gulf of Mexico
Read more:Here..
More Bad News for BP as Arsenic Levels Rise in Seawater Around the Gulf of Mexico
Read more:Here..
I understand why Obumbles refuses to accept responsibility for his poor performance, it must be hard to fail on such a grand scale. We need an adult to take the office next time.
ReplyDelete10:50am
ReplyDeleteIt doesnt matter whos in office. Our society is in decline, doesnt seem there is a way to stop it.
Once again, this is the May 24th 2010 guy. Need for you people to think. Completely review the below and think
ReplyDeleteWhat did Herbert Hoover do prior to the great Depression? So say nothing, but I disagree.
Hoover did intervene after the Stock Market crash, but the acts passed by Congress and signed by Hoover were the worst kind of intervention: they actually exacerbated the problem. The most famous of these interventions was the Smoot-Hawley Tariff Act. Raising tariffs was one of the worst things that could be done. Remember, both free market advocates and Keynesians agree that lowering prices would cure a depression, it's just that the Keynesians believe government intervention is necessary. A tariff does exactly the wrong thing by raising prices. Thus Smoot-Hawley was guaranteed to worsen any depression, not improve it. Other acts passed during Hoover's administration had similar effects of either raising prices or keeping them artificially high when they should have been dropping. Thus, it's not that Hoover was a do-nothing president, it's that he intervened in exactly the wrong way.
What is Obama pattern? You got it. The exact same thing Hoover did "he is intervening in the exactly the wrong way again"
This is changing from a Crime against Humanity into a Crime against Life in General. Nary a word from our gov't about the ultimate consequences of this calamity. The level of contempt in which we, the people, are held by the gov't and British Petroleum is another crime. This is something which, conceivably, could change life as we've known it for everyone on earth. That our worries, questions and concerns are being totally ignored speaks of an impossibly paralyzed, pointless and useless gov't. Throw the bums out!
ReplyDeleteObama could not make things any worse if he tried. He is just plain stupid or a brilliant deliberate destroyer of this once great nation.
ReplyDeleteThe outcome is the same either way.
11:08 - you are correct. A super star could come along, but it to late to save the game. We are in the bottom of the ninth inning with two strike, the bases are loaded and the only way we can win the game is a home run. Do you favor the pitcher or the batter. Guess what the odds are against the batter. In our case the batter is the battered U.S. dollars up for the last swing.
ReplyDeleteAgain this is the May 24th guy bringing you once again, WISE WISDOM. Don't ignore it.
even if a miracle happened, and the leak magically stopped, the damage is done. the results will be life altering for all of us for the rest of our lives, and the lives of our children. we are all screwed, both economically and physically. The only satisfaction that we might have is hanging the culprits who were responsible for this disaster. Unfortunately, we will be too busy just surviving the aftermath of this disaster to seek justice.
ReplyDeleteI will always believe that there are no coincidences. This whole disaster was planned, and no one in authority seems in a hurry to clean up anything. Everything that could be done wrong, is being done. What a nightmare we are all in, and the night is young.
Early – mid 09 I saw this pattern taking place. At the firm I was at they had a chart with a bunch of markets and financial data that spanned decades. The one thing that really caught my eye was this H=S pattern being made.
ReplyDeletehttp://www.aofinance.blogspot......-post.html
It is a tad more detailed there.
The washout in real estate should have been allowed to continue! They changed the rules during the middle of the game and now nobody knows when the bottom will truly take place. There would have been massive bank failures and foreclosures but thats what happens in a free market. Plenty of investors and banks would have stepped in to fill the void.
ReplyDeleteSTOP THE MADNESS!
A good technician will be able to see many things and somehow someway events just fall into place. It is like everything else in life. There are great ball players and there are average and inferior players. Now we can't see everything but a good chartist will be way ahead of the curve.
ReplyDeletewww.wix.com/1nform/AOF
Look at the example of INDU 7 23 09 on main page
If you press more example then go to NDX April 1. I was off by 50 points. I did change my point of view since then but things were becoming apparent.
This is great information. I appreciate the sincere appreciation. Thank you.
ReplyDeleteGreat tips! Great organization and ideas. Thanks for the comments in this post!
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