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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, 31 August 2013

S&P

last week was a bearish engulfing candle,suggesting more downside


IF we bounce (too many shorts,Moe Gamble's post below etc) maybe this could be the map....Daneric's chart with my annotations


Posted by at

2 comments:

  1. Trading Sunset31 August 2013 at 21:36

    Hey CR, I especially like the second chart.

    There is certainly a little gap area in the low 1650s, but that might take 2-3 days to hit.

    Not going to be easy for those bull maniacs to ramp in the face of so many September issues.
    --

    Regardless, looks broadly okay for downside into the next FOMC.

    ReplyDelete
  2. Chartrambler31 August 2013 at 22:12

    you mean you prefer Daneric's chart to mine ? I dont know what to say :-)

    ReplyDelete

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