This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford
I can't help but believe this stock market is leveraged to oil. live chart http://www.cx-portal.com/wti/oil_en.html nitram
Hey CR, that outlook now looks quite likely.The more interesting issue is .... what happens from 1900 though? A mere bounce to put in a lower high 2000/2050... or.... new highs into the spring?Have a good weekend
Hi PD.....something like this maybe ?http://a.disquscdn.com/uploads/mediaembed/images/1681/884/original.jpg
Well, if the 1850/25 zone is hit in Feb, then a giant H/S.... indeedTarget downside for late spring would be the 1650/1575 zone...which would be pretty shocking.Hell, that'd even offer a hit of the lower monthly bollinger... which would be suggestive that we've seen the end of the wave from 2009.So... lets see how this wave goes.*I will note.... unlike October - a clear bear failure... the bears have achieved a bearish monthly closing.So.. from a pure technical perspective.. the situation IS different, and finally, after THREE years... momentum is actually swinging to the bears.-Right now, a primary concern is the looming ECB QE-pomo program. Bears have a window... they need to whack this nonsense at least to 1920/00 within 2 weeks.