Dow Jones Industrial Average (DJI)

The market will continue to go down because the corrupt Congress will not investigate itself regarding the Fannie Mae/Freddie Mac Scandal

The realization that the Ruling Class Starting with Paulson have the protection of the Government, the common man doesn't.

Based on a weekly chart pattern starting in the week of April 20, there was a sell signal on the week of August 3rd 2009.

Here is what the pattern looked like. to see the Sell signal. See the article/tutorial at: http://www.wikinvest.com/image/LUV_SELL.jpg for a simple explanation of the mechanics of that signal. Based on the behavior of the pattern the target price (if shorting the DJI) is $8911.11 Observe how the 3 retracement levels (3 blue lines at $8448.75, $8305.45 and $8162.48 for 38%, 50% and 62% retracement respectively) formed support or resistance from the weeks of June 15 to the week of July 13. But the most important level is the 38% extension level at $9373.47. A bounce off this level (with the level acting as resistance)would be a sell signal. That is exactly what happened on the week of August 3. During that week, the DJI went up to a high of $9466.89, but then retreated and closed the week at $9370.07 , just $3.40 below the 38% extension level. So, the DJI overshot the trigger level for a sell signal by $93.42 and then settled just $3.40 below the sell signal level. This is a bounce and the sell signal was generated. Based on the article/tutorial on the sell pattern, you can easily see that the target price is the top of the blue rectangle at $8911.11 You can also see a similar analysis of recent sell signals (based on daily bars) for BXP and VNQ at: http://www.wikinvest.com/stock/Boston_Properties_(BXP)/Bears?ref=topnav Look for the article with the title: "BXP should drop and reach $53.19 on Technical Sell pattern"

Let us see what happens!

All the negative news of the past few weeks like contraction of American companies production, increase in unemployment rate to more than 10% in many US states , bankruptcy of General Growth, potential bankruptcy of GM, increase in foreclosures, dip in March retail sales, has been conveniently ignored by the markets. This mass of negative news has nevertheless been accumulated and will weigh down the index in the coming few days.

Hello DJIA of 3000 UNLESS people start PUSHING BACK by calling their Representatives, all 50 senators, etc. to say:

1. NO MORE DEBT!!

2. Leave the HEALTH CARE SYSTEM ALONE!!

3. Do NOT take away our secret vote as to union representation!!

4. Adapt to SOLAR-CAUSED Global Warming rather than kill our kid's future with a Cap and Trade system -- because CO2 has gone from 0.03% to 0.04% of the atmosphere.

As a former Obama supported, I'm hoping that enough people start to voice this opinion. Because, right now, as Pres. Clinton said to the first George Bush, "IT'S THE ECONOMY STUPID!!"