The next important ritual date is this Thursday the 20th… so possibly we see an important top on that day and a nice down move to start right afterwards. Since we are so close to a new high I’m going with the assumption that we will get one. However, it’s normal to expect a pullback first before a breakout so possibly we fall back first and then push through?
Meaning that “maybe” we run up and hit the 1850 area of resistance Tuesday and then pullback 10-20 points? Then recapture the level and break through it by 20-30 more points to lure in the last bull? Then I’d expect an important top and a reverse to the downside to start.
So many stocks are making new highs, I wouldn’t stress calling a top. Moreso be cautius
Gold Support and Resistance levels: http://niftychartsandpatterns.blogspot.in/2014/02/gold-support-and-resistance-levels_19.html
The next important ritual date is this Thursday the 20th… so possibly we see an important top on that day and a nice down move to start right afterwards. Since we are so close to a new high I’m going with the assumption that we will get one. However, it’s normal to expect a pullback first before a breakout so possibly we fall back first and then push through?
Meaning that “maybe” we run up and hit the 1850 area of resistance Tuesday and then pullback 10-20 points? Then recapture the level and break through it by 20-30 more points to lure in the last bull? Then I’d expect an important top and a reverse to the downside to start.
hilarious
Who?
Most consistently accurate guy I follow. Insanley accurate. 1 wrong since my follow awhile back
Ford Weekend update: http://niftychartsandpatterns.blogspot.in/2014/02/ford-motors-weekend-update.html
BofAML’s top technician: I was wrong—buy stocks! http://www.cnbc.com/id/101418499
LOL… they were saying just the opposite last week when it looked like the world was ending!
SILVER Range breakout: http://niftychartsandpatterns.blogspot.in/2014/02/silver-range-breakout-and-target-levels.html
ES update: http://niftychartsandpatterns.blogspot.in/2014/02/es-chart-analysis.html