On 6-May-2010 midnight the american market showed unusual movements. Towards the close, Dow Jones Industrial Average Index suddendly plunged by 1000 points to 9872 in just a fraction of minute before recovering and closing at a loss of 300 points at 10500+.
Following days newspapers reported that the American securities agencies are investigating the reason behind such a sharp fall and subsequent recovery.
I did my share of investigation and was discussing the issue with technical experts. I was perplexed what does this chart mean to us. I learnt from these experts that a level once visited on technical chart will be revisted shortly.
Frankly speaking, I took their observations lightly. But after 20 days, on 25-May-2010, the Dow Jones after touching 9800 is currently trading at 9900.
Is this a strange co-incidence or a theory. This event is more like Doppelgänger, forecasting market. Dow Jones had forecasted its future levels. I am stunned and humbled.
Tuesday, May 25, 2010
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