SPX- 75% chance of going to 634
- Thread starter Port1385
- Start date
Did Vic offer you the opportunity to get a premarket massage from the girls?
Government intervention, and continuing intervention, has basically destroyed any chartists' theories.
Fundamentals seem to support a weakening market for at least 12 months , but to determine the degree of weakness is beyond anybody's guess.
This chart is from Tim Knight and not one of my own.
Im not the only one seeing this. However, price could easily turn the other way and move up through the triangle. These triangles are usually continuation patterns. I wouldnt make any attempts to look at fundamentals or bailouts or whatever. You simply do not know what effect those might have or if they will have an effect.
My experience tells me that price is like a big tide. It usually moves in one direction and gets to where it will go until it hits that large concrete storm wall. Price hasnt hit that wall yet and we have one more leg down is my gut feeling.
Im not the only one seeing this. However, price could easily turn the other way and move up through the triangle. These triangles are usually continuation patterns. I wouldnt make any attempts to look at fundamentals or bailouts or whatever. You simply do not know what effect those might have or if they will have an effect.
My experience tells me that price is like a big tide. It usually moves in one direction and gets to where it will go until it hits that large concrete storm wall. Price hasnt hit that wall yet and we have one more leg down is my gut feeling.