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Monday, August 24, 2009

Dow Jones Industrial index headed for the 9,667 - 9,800 area.

(Click on the picture to enlarge)

The break above the August 7'th high at 9,437.49 calls for a continuation high towards the 9,661 to 9,802 area before finding at firm top.

On friday MarketWatch.com ran a story under the headline "We saved the world from disaster, Fed's Barnanke says".
This kind of hybris is often seen near and important market-turn. I'm sure Nemesis is preparing a suitable punishment for Bernanke. What would be more suitable than a doubledip recession at best or worse as I expects an outright periode of deflation/depression.

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