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
and here is the longer-term picture,banging up against trendline resistance in what looks like a massive triangle pattern
Sunday, 26 August 2012
Some swing resistance levels for AAPL.Ideal for bears would be a gap up to 695 and reversal back below 675,the 7/8 line in the Square of 360 chart posted earlier
360 pts in the SPX and 360 in AAPL ? Can't ignore the symmetry although I'm not convinced it will happen
I'm really undecided about gold at the moment but just wanted to point out we are overbought at resistance and are one year from the first of last year's double tops.So I think we pullback here but whether that provides a buying oppurtunity I don't know yet.I still think the 200 dma will cap rallies for a while
wow ! did Apple peak just above 666 ? (!) The 200 dma is rising strongly so anyone expecting Apple to crash will likely be disappointed but a pull back to the area of the prior wave 4 and to the moving average seems possible
Good day for the bears with nice reversal candles and unconfirmed (in different markets) new highs but I'm not hanging out the bunting yet given the degree of manipulation in these markets...Jackson Hole coming up and "optimism" about a sidelined Bundesbank should prevent bears getting too aggressive straightaway,I suspect.Nevertheless a good start. I would like to see a decent black candle taking out 5800 on the FTSE tomorrow.Also watching FTSE for daily MACD cross
Friday, the SPY hit its 52 week high double top. The move up has been on the lightest trading volume in 5 years. This is very worrisome as large investors and institutions are obviously not buying at these levels. In addition, the volatility index is not making new lows like one would assume, telling us storm clouds are brewing on the horizon.
Bears woud probably be well-advised to wait for a signal on the chart below (Ron Walker)
a decent red bar today,an outside day.Need to see a LL and clean break of the 78.6% retracement
Monday, 20 August 2012
watching this wedge on the Dax for an overthrow and reverse below 7000.This is Friday nights close and the Dax has reached 7086 this morning,so we broke through the Gann pressure point at 7030.7200 is major resistance if the market can manage to squeeze higher
another chart from Ron. Vix looks ready for a major move
here is a count from Ron Walker.I like the chart and the count,even if it seems hard to believe at the moment that the market will ever be allowed to fall :-) It seems like there will have to be "an event" to cause such a fall because bears just don't seem to have any grip at the moment.
chart from Keystone Speculator suggesting ultra complacency and likely top
Wednesday, 15 August 2012
Breaking below the narrow range (and light volume !) candles highlighted in yellow should give a decent sell signal.For those who follow astrology Mercury was retrograde the last few weeks,hence the volatile trendlessness
I don't look at the canadian dollar often but apparently its a good risk indicator.I have attempted a wave count which suggests theis move up is close to an end and then we should have a leg down
Gann 1266 x 9/8 = 1424