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

Wednesday, 14 April 2010

Ending Diagonal

This chart is from http://ew-indextrader.blogspot.com/
It shows a possible ending diagonal on the s&p. Remember 1206 is the target on the Gann square of 540.We should see soon whether this count is correct.I look at Elliott wave but frankly find the counting of minor waves beyond me and those who are proficient at it seem to have too many alternative counts for my liking..Nevertheless I like this one and shall be watching it closely.With the Vix so low and put/call ratio at extremes I think the potential for a sharp reversal is high.Until we see that reversal though,the trend remains up.

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