- Posted June 3, 2012 by
This iReport is part of an assignment:
Decline Hits Important Point.
On May 1, just minutes after prices made the highs in the Dow, this reporter published that the Andrews Ore Indicator called for a high in stock prices as represented by the Dow..
Since then the Dow, Russell and S&P, has been going down.
On the above chart you can see how orderly prices have been, when seen within the context of the Babson Profit Ladder, as taught in the Advanced Andrews Course.
With this indicator prices like to use what gives the appearance of ladder points for support and resistance.
Now a month later, price have reached an important point where we would not consider putting on short positions or suggesting that the market has a lot more down side to go.
At present several Advanced Andrews Course indicators suggest that prices are in an important support area and that the risk here is to the upside.