Wednesday, March 27, 2013

The Daily Outlook - $DJIA $SPX $NDX Step-Pause-Step

*****Maybe because of Dancing with the Stars, maybe because I love to dance, I keep thinking in dance steps when looking at charts. That does not mean you have to, of course. It's really watching the rhythms of the moves as it forms patterns. The daily choreography is revealed at the end of the day and then added to the previous days' results a longer pattern of the dance is revealed.

That is what we are watching today. Triple top.. does that mean a pause before another energetic move to the upside or does it mean exhaustion. We only have history to give us hints, but if the choreographer is new in the market, history may not prove to be much help.

A triple top normally may mean that we will reverse direction, "normal" meaning prior to so much Federal and government involvement. Since the Fed is now a new more hands on choreographer of these markets, there is less likelihood that the old pattern results will prevail. We have seen it over and over again, as with amazement we watch how the negative news is being "ignored"; or shall we say mandated to be ignored. Banks/ Brokers have to manage the money they have been trusted with to keep the economy from collapsing remember?

How did I get from #DWTS to illusions? It's all a show .. be it reality or be it not. So with that thought, there are no guarantees and of course there never were.  Security and Safety in life or in money is just an illusion.

Just an Illusion by Imagination on Grooveshark

Happy Trading, Living and Dancing

 The Daily Pick - $DJIA $SPX $NDX

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