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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, 12 April 2014

SPY

We broke down from the box consolidation I posted last weekend and took out 7 week lows with another nasty topping tail candle.Very bearish price action





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5 comments:

  1. Anonymous12 April 2014 at 14:01

    What makes me anxious even as a bear is that in 1987 we had a 25% down day in one day. now we are much much higher, with everyone walking around with a hand held device to sell instantly. Then you needed to contact your broker who didn't answer the phone, or as now you can't get out of most mutual funds until the close. Now we have ETFS" to enhance the speed of the sell. Check out the chart bottom left 1987-1988 and where we stand now. http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=DJIA&insttype=Index&freq=2&show=&time=20 nitram

    ReplyDelete
  2. Chartrambler12 April 2014 at 15:21

    yes thanks Nitram,all those algos and HFT machines too too

    ReplyDelete
  3. 200ma12 April 2014 at 18:03

    Hey buddy can you do me a favor on your Hubb? You are much better and knowledgeable than I am with it. I need a nice clean line from March low in 2009 to 1946.79 end week of May 26, 2014 and another off lows in June 2012 and June 2013. Key here is 1906-1946 which is 640 off 2012 low and 1280 off the March 09 low. I was going to email but thought I would stop by and read :-)

    ReplyDelete
  4. Souljester13 April 2014 at 21:22

    ftp://80.240.216.180/Transmission/Файлы/S&C%20on%20DVD%2011.26/VOLUMES/V22/C02/031CRAN.pdf

    ReplyDelete
  5. Chartrambler14 April 2014 at 15:44

    Thanks SJ. Hope you are well

    ReplyDelete

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