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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
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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

Saturday, 22 January 2011

S&P

We have had the overthrow of the Gann channel,and a gravestone doji candle yesterday after the morning star reversal pattern(unconfirmed).It now remains for the market to break the 3x1 to confirm some kind of top.The vix had a great day yesterday (see Ron Walker's chart),suggesting fear may be creeping back in to the market.The Russell and Nasdaq show weaker charts and are leading at the moment,while the Dow has remained resilient (flight to safety/risk aversion ?)


 


 




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