Fri. 5-27-05 Dow (intraday)... the rally set up

[MARKETWAVES]

The Dow Jones .. on an intraday basis this past friday was sitting in a pullback position around 10;00 am New York time ....


This was the prefect case of a pullback ... It was sitting on to top of an old resistance line that was tested earlier in the week...

There was a major holliday ,, comming this weekend ,, looks like some traders made some money to go to Disneyland with the kids before the long week end ......


We now have what appears to be 5 waves in play .... look at the 3rd chart posted here ..... WATCH THIS CLOSELY ...

Bottom line , I am paying close attention on Tuesday , when the market resumes the 10550 area looks like it could pose as an area of concern .....

Well ..... what do you think ?

Any Comments ?






TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliot Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …

 

[MARKETWAVES]

DOW JONES .. ( THE PULLBACK )? 5-28-05

DOW JONES .. ( THE PULLBACK )? 5-28-05




OH , HOW THE DOW PULLED BACK ........


CLASSIC ELLIOT WAVE FORMATION ....



TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliot Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …