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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Monday 31 October 2011

here is a chart from Mike Breaux's website      http://spwavetrade.blogspot.com/
The 21,34 emas have crossed bullish so the mechanical trade is to look for a pullback to buy.However the speculation is that we may have a similar situation to 2007 (Mikes red box) .Worth keeping an eye on price action wrt these ema's over the next few days.




here is my chart with a possible channel and 5 dema added.We need to break the 5 dema as initial sign at least that a turn may be starting.Friday's candle was a doji,which often marks a top.Elliott wave people are mostly calling for one more push to around 1306


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