Dow turns, on cue, at top of channel

Dow Jones reaches the top of its move and sets of on its way down again

It was horrible to watch the way that the DJI changed direction after poking its nose up through the top of its channel on Friday. The puppet masters on Wall Street have made their money on the way up and are now ready to make money on the way down. I guess most sold out on Wednesday when the index poked up for the first time and then pulled back on high volume. Then they toyed with us for a couple of days till they were ready with their short positions and now we are on the way down again. Only problem for me is that it has taken the full two months to accept that this is happening so I have failed to make money from it and have lost instead. And now it could well be that the pattern will soon be broken as, at some point, it must.

My main reason for writing this blog is to improve my skills at reading charts AND making money from that reading. I have never pretended to know more than the next man and this market is unfamiliar territory for me as well as for everyone else.

Gold and Silver plod on.