Wednesday, October 22, 2008

(DIA) against Machine

It is plainly amazing how any fundamental decisions all in a sudden disappeared from day to day trading process and none, but machines (trading programs) is willing to trade.
This is 15 minutes (DIA) chart for illustration of precise following of DeMark Setups during last few days.

And here is daily (DIA) - is is in the process of forming symmetrical triangle, which usually serves as consolidation pattern, given recent huge drop, better chances, from ,my point of view are for beginning of move up after pattern is completed. It might happen as soon as today midday or tomorrow. (DIA) within this pattern might touch 8550 area.