{"id":56696,"date":"2010-06-02T12:32:19","date_gmt":"2010-06-02T02:32:19","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2010\/06\/02\/wizard-warns-of-dow-head-and-shoulders\/"},"modified":"2010-06-02T12:32:19","modified_gmt":"2010-06-02T02:32:19","slug":"wizard-warns-of-dow-head-and-shoulders","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2010\/06\/02\/wizard-warns-of-dow-head-and-shoulders\/","title":{"rendered":"Wizard Warns Of Dow Head And Shoulders"},"content":{"rendered":"<p>\n\tThe Tech Wizard would like to draw attention to the following graph, which provides a clear head and shoulders pattern for the US Dow Jones Industrial Average over the 2007-08 boom and bust.<\/p>\n<p>\n\tWhen the Dow hit a high at 14,000 in July 2007 and pulled back sharply to 12,500, the 20-day moving average was still rising. We had another leg up to the Dow back to 14,200, and then it was back down to the 12,500-12,800 support level.<\/p>\n<p>\n\tAgain the Dow fought back, to 13750, but the lower high only served to confirm the head and shoulders creation. Then it was goodnight.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Wiz1.jpg\" style=\"width: 600px;height: 410px\" \/><\/p>\n<p>\n\tLooking at current Dow movements, the Wiz suggests we may be seeing a similar patterm emerging. This would suggest a rally to the 10,550-10,750 range (potentially over 7% from here) to form the second shoulder. After that&#8230;well&#8230;&quot;You have been warned,&quot; warns the Wiz.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Wiz.jpg\" style=\"width: 600px;height: 410px\" \/><\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Wiz2.jpg\" style=\"width: 600px;height: 410px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are some unsettling comparisons playing out between 2007-08 and 2009-10, notes the Wiz.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56696"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=56696"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56696\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=56696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=56696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=56696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}