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

Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin

The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Sunday 22 November 2009

Here is the S&P still probably the most important equity market even if the mask is slipping
This is a weekly candlestick chart with a simple trendline from the highs and the all important 50% retracement,of which Gann reputedly said you could make a fortune following this one indicator alone
...so the market is poised at very important level and we should take serious note of any early signs of reversal....so far we have a Doji candlestichk formation and the rolling over of the weekly MACD indicator but no actual reversal on the weekly chart

My first blog........never thought I'd do this,am no Stephen Fry but thought it might be a good vehicle to post and hopefully share chart ideas and musings on the markets.
Am definitely a closet Austrian as far as economics goes ...what goes around comes around ...no such thing as a free lunch etc....great fan of Gann and fibonacci ...time is the underappreciated element,everything is a circle and it goes around and round ....but its easy to get seduced by the exotica and we should never forget to KISS (keep it simple stupid) and to remember Livermore's advice that there is only one side of the market to be and that is the right side...lose your opinions or lose your money ! (easier said than done)

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