Tuesday, December 2, 2008

Ending Diagonal Update

Ending diagonal was prescient and you can see that it has led to a cliff dive after the a-b-c move failed to reach the 855 target. The DOW has given back nearly 200 points of its earlier gains and is now back to only being up about 70 points after being up more than 260 earlier.

The triangle on GS was also prescient… that’s a money pattern there, I won’t be a pig, though, and will take at least partial profits later.