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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


Sunday, 21 October 2012

SPX  360 points from 1080 to 1440 in 360*.
So the BKX did 1800 in 360*,AAPL fell short of 360 and the SPX  broke 360 but for 6 weeks was unable to break the next 1/16 line.1395  is the 7/8 line,so next obvious support ?


Saturday, 20 October 2012

AAPL

Look how the red diagonal parallel trendline acted as resistance last week !









here is the same square on a weekly chart but drawn from the November low.Maybe we will bottom in November ?

BKX

BKX is having trouble breaking through 50.56 and there is a possible double top in place.Breaking the 34 dwma would probably confirm the start of a new down cycle in which case we could star a new square starting at the 52 high,18 points and 12 months forward







lots of ugly candle signals on Friday
Another look at the Dax and an evening star reversal setup


Spx Square of 144

Interesting to step back after all the volatility and hype about QE3 now and see that we have 3 tops in place and are below 1440 on the Spx and that 1462.5 (1/16 up from 1440) was important resistance


Ron Walker's 60 min chart.Price action early next week will be critical as to whether this channel holds