It’s cute: Harry Reid this morning says that there will be no resolution by the end of the year and the market tanks into the low and then breaking news arrives that Congress will return to work on Sunday and the market spikes back to unchanged.
$ndx spiked down through its lower BB and then popped back above it while overall Nasdaq composite dropped down to its lower BB and then bounced back. Other indices didn’t get there though the Dow and SP came close.
Looks like he’s protected it… sorry. You didn’t miss anything. Just a simple chart showing that the major rising trendline from the 2009 low is in danger of being broken…
But if we break the 1380’s we will break the weekly rising wedge and activate the weekly H&S. If that the case, the bear market rally since march 2009 could be over?
It’s cute: Harry Reid this morning says that there will be no resolution by the end of the year and the market tanks into the low and then breaking news arrives that Congress will return to work on Sunday and the market spikes back to unchanged.
$ndx spiked down through its lower BB and then popped back above it while overall Nasdaq composite dropped down to its lower BB and then bounced back. Other indices didn’t get there though the Dow and SP came close.
Needless to say gang… the low appears to be in now. I thought we’d test the 200dma around 1390 area but the gangsters have other plans it seems.
I got it now…
http://screencast.com/t/KhoDCRYxl
http://screencast.com/t/A0TomMLfFj
Looks like he’s protected it… sorry. You didn’t miss anything. Just a simple chart showing that the major rising trendline from the 2009 low is in danger of being broken…
Refresh page for new video…
Dow Jones Rising wedge: http://niftychartsandpatterns.blogspot.in/2012/12/rising-wedge-of-dow-jones.html
red, can u copy and paste the tweet message, cant open it, it says you are not authroized
Yea i got Atilla message but its hard to see the chart on my phone. Can you do a screen shot of it? Its not coming up when i click your link…
Atilla has been in hiding I guess for over a year now. But he just tweeted this today…
https://twitter.com/xtrends/status/284351097039093760/photo/1
https://twitter.com/xtrends/status/284351401411366913/photo/1
So yeah… the bear market is almost back. January should be ugly I believe.
But if we break the 1380’s we will break the weekly rising wedge and activate the weekly H&S. If that the case, the bear market rally since march 2009 could be over?