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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 December 2012

SPX reversal at resistance

We have a tradeable setup with this week's shooting star occurring on the winter solstice at clustered Gann resistance (1/8 and 1/3 off 2 major lows) A bear candle next week would confirm,though next week may be dull due to holidays.The previous week was also a shooting star and before that it was a hanging man,so 3 successive bear candles
 There was further resistance at 50% pressure point from the DE range measured from 1343  ie 1447 (high was 1448)
Turn on week 14 so we could decline into week 21-22 ?

edit  - there is an error on the labelling should say resistance zone is 1425 - 1429.4 






1 comment:

  1. nice charts, especially the second one.

    Maybe a brief break into the 1175/1150 zone in March?

    Monthly charts would allow for it.
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