This blog is a journal of charts on ASX stocks in various point in time. You might find charts on Major forex pairs,Nasdaq and SGX stocks as well.It reflects the author personal view. Its neither advisory or invitation to trade. All done in the interest and passion for the market, trading, technical analysis and elliot wave. And to exchange view, opinions with traders worldwide. .
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Sunday, June 19, 2011
July 4th Efefct on American Stock Market : Dow Jones
Taking a look at the Dow JOnes Performance on the week of July 4th America's Independent's Day.
2003 : Up
2004 : Down [5 weeks turn around]
2005 : Up
2006 : Down [2 weeks turnaround]
2007 : Up
2008 : Down [1 week turn around]
Deep correction ends
2009 : Down [1 week turn around]
2010 : Up
2011 : Down [??]
Observations :
. Going by the up-down-up pattern since 2003, 2011 could be a down year on the week of July 4th 2011.
. But dont hold your breadth past the week, as the rebound or the contuinuation of the trend follows, 1 week
later.
. [Except for year 2004]
. Pattern stops on Year 2008 which was a down year, and 2009 was also a Down year
. followed by 2010 an Up year.
. A new Pattern unfolding ??
. Whatever it is it has been a temporary pause followed by a rally for the next few weeks.
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