New bears and trapped bulls are fighting it out hard here. The bears should win by the end of the day. I see another big move down coming into the afternoon and close.
Not a trendline, but a pattern. Look at Jan 1934 to ~Sep 1937 and compare to Jan 2009 to present, the patterns are very similar. There is a kick-ass rally that starts in July 1937, but it falls almost to the beginning of the pattern, which, if overlaid on the present pattern, would fit SPX 885 well. If I guesstimate, it gets really choppy around 1050, then finally capitulates to high 800’s after several weeks or months. Let me know if that doesn’t make any sense.
New bears and trapped bulls are fighting it out hard here. The bears should win by the end of the day. I see another big move down coming into the afternoon and close.
WOW! That’s all I can say!
Crude oil chart: http://niftychartsandpatterns.blogspot.com/2011/08/crude-oil-channel-breakdown.html
Not a trendline, but a pattern. Look at Jan 1934 to ~Sep 1937 and compare to Jan 2009 to present, the patterns are very similar. There is a kick-ass rally that starts in July 1937, but it falls almost to the beginning of the pattern, which, if overlaid on the present pattern, would fit SPX 885 well. If I guesstimate, it gets really choppy around 1050, then finally capitulates to high 800’s after several weeks or months. Let me know if that doesn’t make any sense.
You mean a trendline drawn from 1937? Where exactly did you start the trendline out? What date and year?
I was looking for a pattern where your 885 SPX FP would be valid and the closest seems to be 1937. Check it out. Sell all rallies!
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Finishing processing video… uploading to youtube now.
I just finished recording a new video and I’m now processing it. It should be up in an hour. Downside targets… 1150 or 1100 if we the bulls are lucky.
“But…but…the government will save us right?”
“No little Johnny, the government is trying to destroy us. One day soon, you’ll understand.”