Consistant Dow Jones average

Reply Tue 24 Apr, 2012 03:36 pm
The Dow Jones has established a solid resistance level, 13 thousand. It went up as high as 13.33 in March and as low as 12.55 thousand in Jan, up and down, up and down, and so far it always returns to 13.00 thousand, just like today. Volume is a consistent 40 billion too.

What does it all mean? -- I haven't a clue.
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cicerone imposter
Reply Tue 24 Apr, 2012 08:26 pm
I've also noticed that balance level at 13k, but haven't decided whether that's an established average. The reasons are many; the ups and downs are driven primarily by the Euro countries, even though the US economy is steadily growing - at a slow rate.

Here's my POV on the stock market. The ups and downs will be as high as 300 points in one day, but it will very slowly make up losses in the longer term.

The reason is based on my observations on the increase in hiring (especially here in the San Francisco Bay Area which added 11,000 jobs last month). California is the seventh strongest economy in the world, and that means it has more staying power than many of the the bankrupt Euro countries. Apple Computer is the richest company based on market value, and their profit margins are some of the highest of any industry. Other major companies such as Hewlett Packard, Google, Yahoo, Facebook, Intel, Wells Fargo, are some of the strongest companies in the world - all based in the bay area. Other important domestic and international companies have branches here.

I have faith in the US economy, and believe that our country's products and services are still competitive in the world marketplace. I don't think the fundamentals will change any time soon.

California's GSP in 2011 was $1.9 trillion (more than the GDP of Canada) and represents 13% of the US GDP.

Miss L Toad
Reply Tue 24 Apr, 2012 08:45 pm
@cicerone imposter,
What does your fundamental analysis vignette on a US state have to do with the chartist witch doctor's interpretation of the pig's entrails at the 13 level?
cicerone imposter
Reply Tue 24 Apr, 2012 09:07 pm
@Miss L Toad,
It's the economy, stupid!
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