***Charts Predict Dow 6,400 in Less than a Month***
Posted November 19th, 2008 by legalizeliberty
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The Dow Jones Industrial Average is set to sink to 6,400 within the next few weeks, Nicole Elliott, technical analyst at Mizuho Corporate Bank told CNBC.
"Any moment now I think we're going to break lower," Elliott told "Europe Tonight."
"I expect this to be possibly before the end of November or very early December, I mean we're almost on our way now and it's just a question of how far down do we go," she said.
The Dow [ DJIA 7997.28 -427.47 (-5.07%) ] managed to close above its October low of 8,175.77 on Tuesday, but slipped below that level during the trading session. Market watchers are divided on whether the recent lows mark a base from which to rally, or a pit stop on the way lower.
"This is not a base at all, we're nowhere near bottom yet," Elliott said.
After the initial sharp slump the index could fall further, but in a more gradual decline, according to Elliott.
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Thanks for posting that..
A couple of years ago they wouldn't put a classical technition on T.V.
Cool...
oye vay :(
~Mikael / Peace, love, Light and unity ~
my father says
if this continues people really start to suffer and he said revolutions start when there is hunger.
Todays falls combined with asian ones it all creates a self propelled drive down....who knows where....
http://www.votenader.org/...
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we are within 1,000 points
we are within 1,000 points of that
interesting fall today
Japan's Nikkei down 5% right now
if this collapse was occuring during the primaries Ron Paul could have won.
http://www.votenader.org/...
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The sinking ship is about to capsize...
This will be the death knell for the markets. Symbolically, I think a market under 8K is the final nail in the coffin for our economy. 6500 by Christmas was my personal thought; now I see others have beat me to it!
Or, is this the impetus for the Obama 'miracle'. Will Obama convince his minions to buy stock to resurrect the markets? Needless to say, the PPT would be stoking the fires in the background, but is Obama could pull something like that out of his ass, there would be no stopping the NWO plans.
I may not know the truth, but I know when I'm being lied to...
amazing
In just one year, stocks in the S&P 500 index, the yardstick most used by professional investors to gauge the U.S. stock market, have lost nearly $1 trillion more than in the entire 2000-2002 bear market, Standard & Poor's said Wednesday. Since closing at a record high of 1,565 in October of 2007, the S&P 500 has now lost $6.69 trillion, said Howard Silverblatt, index analyst at S&P. That's already nearly $1 trillion more than the $5.76 trillion lost during the entire bear market of 2000 to 2002.
$SPX 806.58, -52.54, -6.1%) finished at 806.59, its lowest close since March 12, 2003, and just 40 points away from 776.76, which marked the bottom of the last bear market.S&P 500 has now lost $6.69 trillion since late last year, nearly $1 trillion more than the $5.76 trillion lost in the last bear market.
http://www.votenader.org/...
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Maybe that's why we are
Maybe that's why we are meandering in the in/deflation region. Money being injected while money is evaporating.
I'm no economist. Question is... which will prevail? Inflation or Deflation?
Does my burka make my butt look fatwa?
I thought this info is of great importance
since Alex Jones posted it on his websites.
http://www.votenader.org/...
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