DOW

Cheers Remo, If the DOW goes lower than Mondays low today would that be classed as a 123 high?

Amo wrote: Hi Remo,

What would you look for to suggest there could be a change in trend rather than just a correction?

Thanks
Amo

P.S. Good call with the Marubozu

Sorry did not really responded to the question properly.
I'd look for bearish candlestick patterns and will look to confirm this by lower highs. 123 highs .
Until you get the lower highs it's risky calling the tops. Trend lines breaking is an added bonus but the trend line for the Dow is miles away.

Amo wrote: Hi Remo,

What would you look for to suggest there could be a change in trend rather than just a correction?

Thanks
Amo

P.S. Good call with the Marubozu

Hi Amo
My main Reason to say that it could be a sign of a trend reversal is mainly due to the fact that between April and October the markets likes to correct. If you look back a few years of the Dow you can see it likes to correct between these months.
The dows had a good move and it does need a correction to go higher as well. Corrections are healthy.

SirRichardBunson wrote: Hi Remo,

Just curious but after reading your Dow post this morning I could see that Afren was showing the same candlestick and sure enough it reached just above the target area and then fell so can I presume that the Marrowboozy play does apply to shares as well as the markets.

Cheers

SRB

Hi srb
Yes it applies to all shares as well.

Hi Remo,

What would you look for to suggest there could be a change in trend rather than just a correction?

Thanks
Amo

P.S. Good call with the Marubozu

Hi Remo,

Just curious but after reading your Dow post this morning I could see that Afren was showing the same candlestick and sure enough it reached just above the target area and then fell so can I presume that the Marrowboozy play does apply to shares as well as the markets.

Cheers

SRB