Saturday, May 24, 2008

Downside Objective For The Dow

If you read my last post, you would know that I was turning cautious on the dow based on several reasons one of which was a double top formation. Since that post which was only a few days ago, the dow has fallen and is now approaching my downside objective of 12300.


anon the mouse said...

Hi Kevin-

How did you arrive at the downside objective?



Kevin said...

Take the width of the double top formation and double it

Sandro said...

It's not clear what is your timeframe for this objective? Days? Weeks?

Without timeframe it doesn't mean anything. Let me explain.

My downside projection for Dow for the next 18 months is something between 8,000 and 9,000. So in its journey from 12500 to 9000 it definitely will cross 12300. The question is when?

Kevin said...

Days, this is a short term trade


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