The light volume today makes it hard to believe that any move down will stick. While I think we’ll have a pullback today, I also think they will buy it back up and rally toward that double top area just below 1200 spx. I’ll wait to short there… GL
I pay $40 per month for Breakpoint Trades membership. Attached here as a PDF download is one of their “bonus” newsletters, it shows the world index as well as the big foreign indices. My EW annotated chart shows Spain, with a clear 5 down and bounce up.
ALL the other indices in this BPT newsletter show similar patterns. Although as of Wednesday, I was leaning quite bearish at least in attitude, I have to reconsider that after viewing these charts. These charts are quite bullish, TEMPERED with a caution….the market is tricky, when it looks like things are about to fall into an abyss, that would be the time for a major ramp to trap bears. When it looks all rosy, like now, with Europe “saved”, could also be the perfect time for a black swan to show up and defecate all over the place. The real black swans are not the ones you know about (Greece et al.) but ones that show up completely out of the blue.
Arthur seems to be saying go short, so I obey.
The light volume today makes it hard to believe that any move down will stick. While I think we’ll have a pullback today, I also think they will buy it back up and rally toward that double top area just below 1200 spx. I’ll wait to short there… GL
Went in short from 1180 level. 3 or 4 days up so far. What goes up must come down.
ES Daily chart analysis: http://niftychartsandpatterns.blogspot.com/2011/10/es-daily-chart-analysis_10.html
GOLD Near resistance line: http://niftychartsandpatterns.blogspot.com/2011/10/gold-near-resistance-line.html
SILVER Resistance levels: http://niftychartsandpatterns.blogspot.com/2011/10/silver-resistance-levels.html
I pay $40 per month for Breakpoint Trades membership. Attached here as a PDF download is one of their “bonus” newsletters, it shows the world index as well as the big foreign indices. My EW annotated chart shows Spain, with a clear 5 down and bounce up.
ALL the other indices in this BPT newsletter show similar patterns. Although as of Wednesday, I was leaning quite bearish at least in attitude, I have to reconsider that after viewing these charts. These charts are quite bullish, TEMPERED with a caution….the market is tricky, when it looks like things are about to fall into an abyss, that would be the time for a major ramp to trap bears. When it looks all rosy, like now, with Europe “saved”, could also be the perfect time for a black swan to show up and defecate all over the place. The real black swans are not the ones you know about (Greece et al.) but ones that show up completely out of the blue.
http://oahutrading.blogspot.com/2011/10/world-indices.html
The new post is now up with the video…
http://reddragonleo.com/2011/10/09/how-the-mayan-calendar-david-wilcock-and-ben-fulford-have-made-me-conclude-that-the-worst-stock-market-crash-in-history-is-just-weeks-away
Video is now upload… refresh page.
http://reddragonleo.com/2011/10/09/how-the-mayan-calendar-david-wilcock-and-ben-fulford-have-made-me-conclude-that-the-worst-stock-market-crash-in-history-is-just-weeks-away/
thanks