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
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 ?
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
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