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.
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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
Looks to be losing momentum.The horizontal lines are 38 and 50% retracements.Does not inspire me with confidence that Japan may be starting a bull market.
Apple formed a Doji on the weekly chart and a bearish Doji evening star on the daily.This chart is a square based on the current range (300 points) and 1 year from June 20 low.I marked in April 20 as price will equal time (300 degrees)The June - November low to low cycle also balances around then.
There are fewer and fewer bears,with all the CB's liquidity floating all before it. Here is one http://sqwiitrader.com/free-daily-edition-for-28th-march-2012/
and a RUT chart from the post
Looking for a 3rd low here to buy.It may already be in but safest to watch the 21 dma for a turn and price push above.Cycles show a clear 6 months down from April into October,next low probably next week (at 30 ?)
Ftse still looks much weaker than the SPX. Bears need to see this swing fail ,confirming the false break/double top pattern.The moving averages seem to be converging.
I have mentioned Gann's concept of "natural time" often.The year is divided into fractions,with the 4 equinox and solstice dates being the main marker.Changes in trend are often seen around these dates.We may just have seen a 3rd successive low in gold on such a date.This chart from Kimble illustrates this principle in action
FTSE broke the 10x1 line (coloured red) so is in a weak position now.We met a measured move target (wavers would say A=C) and got a false break (or Pinocchio) pattern which is effectively a double top.The Gann 90 day/ 900 point square also seems to have been effective.Lets see if the bear angles start to define a new downtrend.
The weekly fib counts are also interesting on this.The closing low in July 2010 was 9686 Add 3600= 13286.the low to high 44 week cycle is balanced by the 44 (actually 45) week time span to the recent high.So significant cycles are present but we need a reversal to confirm.