thanks Alan, its good to be onboard..

Hi All,

First, thanks Alan for welcoming me onto your blog.

Its always been a thought of mine to start blogging my thoughts, however actually taking it to the next step of doing it just hasnt happened.

So anyway, my thoughts for today...

A very solid night in the US, with a huge 255pt move north.. its not just positive for overnight holders, its a positive for the charts mid term IMHO. Serveral charts were at a T-junction, however now I think we could be in for a sustained rally. I did a chart up last night check shows the first down trend from May on the XJO coming under threat, which will more then likely get smashed today with the overnight US move.



Below also is a longer term chart on the XJO showing the weekly going back as far as March 08. This chart illustrates the major down trend from the XJO's all time highs, and also some speed angles of where I see this next leg up getting to. Coincidently the speed angle hits right on this down trend line at around 4720-4750.



Its a long shot, but thats where I see this next leg up getting to...however I think it might take a little longer then the previous rises.. lets not forget the Non Farm Payroll numbers are due out on Friday night in the US... this could throw everything in a heap.

It was back on the 26/08 I did a chart on the DJIA chart showing the indicators were starting to come around, and we were close to seeing a move north.. indicators dont lie. Here was the chart...



Look forward to posting more of my thoughts

Cheers
Kevi