{"id":1536,"date":"2011-10-25T01:59:18","date_gmt":"2011-10-25T05:59:18","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=1536"},"modified":"2011-10-25T01:59:18","modified_gmt":"2011-10-25T05:59:18","slug":"dow-not-yet-out-of-the-woods","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/25\/dow-not-yet-out-of-the-woods\/","title":{"rendered":"Dow not yet out of the woods"},"content":{"rendered":"

Dow Jones Industrial Average followed through on its breakout above the 10600-11700 trading range but expect some resistance at 12000. The index looks set for a decent rally after narrow consolidation below resistance at 11700. Target for the breakout is 12600*.<\/p>\n

\"Dow<\/p>\n

* Target calculation: 11600 + ( 11600 – 10600 ) = 12600<\/span><\/p>\n

Yields on 10-year Treasury notes also rallied as funds flowed back into stocks, but we are not yet out of the woods.<\/p>\n

\"10-Year<\/p>\n

There is bound to be a relief rally when EU leaders announce details of their rescue package — followed by a pull-back when traders figure out the costs involved. The danger is that Germany and France do an “Ireland” and rescue the banks but put themselves at risk. Both have public debt to GDP ratios close to 80 percent<\/a> and it would not take much to push them into the danger zone. If they are down-graded then the kids are home alone — there will be no adults left in the room. A down-grade would raise their cost of funding and place their own budgets under pressure.<\/p>\n

The S&P 500 is also testing resistance at 1260; breakout would confirm a Dow signal. 13-Week Twiggs Money Flow is rising but no bullish divergence means this could be secondary (medium-term) buying pressure.<\/p>\n

\"S&P<\/p>\n

* Target calculation: 1120 + ( 1220 – 1120 ) = 1320<\/span><\/p>\n

Nasdaq 100 index displays an ascending broadening wedge<\/a> as it approaches resistance at 2400. The ascending wedge is a bearish pattern: Bulkowski maintains that it breaks out downward 73% of the time. Target would be the base of the pattern at 2000. Bullish divergence on 13-Week Twiggs Money Flow, however, indicates strong buying pressure. Breakout above 2450 would signal a primary advance to 2600*.<\/p>\n

\"Nasdaq<\/p>\n

* Target calculation: 2400 + ( 2400 – 2200 ) = 2600<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Dow Jones Industrial Average followed through on its breakout above the 10600-11700 trading range but expect some resistance at 12000. The index looks set for a decent rally after narrow consolidation below resistance at 11700. Target for the breakout is 12600*. * Target calculation: 11600 + ( 11600 – 10600 ) = 12600 Yields on … <\/p>\n

Continue reading “Dow not yet out of the woods”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[57,34],"tags":[524,1113,2401,3010,3330,3482,3511],"class_list":["post-1536","post","type-post","status-publish","format-standard","hentry","category-stock-markets","category-us-canada-countries-regions","tag-bullish-divergence","tag-dow-jones-industrial-average","tag-nasdaq-100","tag-sp-500","tag-target","tag-treasury-yields","tag-twiggs-money-flow"],"yoast_head":"\nDow not yet out of the woods - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dow not yet out of the woods - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Dow Jones Industrial Average followed through on its breakout above the 10600-11700 trading range but expect some resistance at 12000. 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Breakout would warn of a primary advance, but the market is prone to false signals because of excessive volatility and it would be prudent to wait for confirmation. Respect of 11700, or a false break above 11700, would re-visit support at\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1885,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/14\/nasdaq-fails-to-dispel-fears-of-a-bear-market\/","url_meta":{"origin":1536,"position":1},"title":"Nasdaq fails to dispel fears of a bear market","author":"ColinTwiggs","date":"November 14, 2011","format":false,"excerpt":"The Nasdaq 100 is consolidating in a narrow band below resistance at 2400 on the weekly chart, suggesting an upward breakout. Follow-through above 2450 would confirm the target of 2800*. 13-Week Twiggs Money Flow continues to signal buying pressure after an earlier bullish divergence. * Target calculation: 2400 + (\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1798,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/06\/nasdaq-threatens-breakout\/","url_meta":{"origin":1536,"position":2},"title":"Nasdaq threatens breakout","author":"ColinTwiggs","date":"November 6, 2011","format":false,"excerpt":"The Dow is testing medium-term support at 11600. Failure would mean another test of primary support at 10600, while respect of support (with breakout above 12300) would confirm the primary advance to 12800*. Rising 21-day Twiggs Money Flow continues to indicate buying pressure, favoring an advance. * Target calculation: 11600\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2234,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/20\/nasdaq-dow-warn-of-correction\/","url_meta":{"origin":1536,"position":3},"title":"Nasdaq, Dow warn of correction","author":"ColinTwiggs","date":"November 20, 2011","format":false,"excerpt":"The NASDAQ 100 index broke support at 2300 on the weekly chart, warning of a correction to test primary support at 2000. A large bearish divergence on 13-week Twiggs Money Flow now warns of a primary down-trend; reversal below zero would strengthen the signal. Failure of support at 2000 would\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4637,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/18\/sp-500-and-dowcorrection-is-over\/","url_meta":{"origin":1536,"position":4},"title":"S&P 500 and Dow: correction is over","author":"Colin Twiggs","date":"June 18, 2012","format":false,"excerpt":"The S&P 500 closed Friday above resistance at 1340, confirming the bullish divergence on 21-day Twiggs Money Flow (hat tip johnb). Expect retracement to test the new support level, followed by a rally to the March\/April high of 1420. Wait for breakout on the Nasdaq 100 to confirm the Dow\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":945,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/22\/the-dow-tests-key-support-at-10600\/","url_meta":{"origin":1536,"position":5},"title":"The Dow tests key support at 10600","author":"ColinTwiggs","date":"September 22, 2011","format":false,"excerpt":"Dow Jones Industrial Average is testing support at 10600; failure would add final confirmation of\u00a0 the bear market signaled by 63-day Twiggs Momentum (holding below zero). * Target calculation: 11000 - ( 12000 - 11000 ) = 10000","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/1536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=1536"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/1536\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=1536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=1536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=1536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}