Gann Angles on the Dow Jones Industrials
Let's review the Dow Jones Industrial with Gann Angles.
We have jumped to the long Gann Angle sourced from the 2007 highs, this is major resistance. A charge to 19,000 is required to bust this line. However this blog suspects more of the same consolidation along the angle. If there sellers are in charge then this is were they start to unload.
"I believe that uncontrolled basic emotions are the true and deadly enemy of the speculator. That hope, fear, and greed is always present, these emotions sit on the edge of the psyche, waiting on the sidelines, waiting to jump into the action." ~ Jesse Livermore
"Successful speculation requires staying on top of changes in industries and companies that either create new industries or improve on existing industries. The majority of your profits will come from these two ... The shrewdest traders throughout history all adapted the skill of reactionary change, as the market constantly presents new and different opportunities." ~ Bernard Baruch
"Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market." ~ Warren Buffett
"Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it." ~ Warren Buffett
"Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected." ~ George Soros