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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

Saturday 25 May 2013

SPX




Posted by at

5 comments:

  1. Trading Sunset25 May 2013 at 18:26

    The mid 1500s are 'best bear' case, on the weekly charts..indeed, time frame would be late july/early August.

    I find it hard to believe those levels are viable whilst QE continues though.
    --

    Bears need a weekly close <1600, but by then, thats half of the decline anyway...urghh.

    ReplyDelete
    Replies
    1. Chartrambler26 May 2013 at 10:53

      yes probably right but it feels like things are stirring in the currency world and maybe that is going to cause some disruption ?

      Delete
  2. Attitude92825 May 2013 at 20:34

    Ramble a little about your interpretation of the chart please.

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    Replies
    1. Chartrambler25 May 2013 at 22:01

      I posted it for someone who wanted to see the 3x1. Not much to say except its a 6 month rally so it could be a decent top.25% Gann resistance worked,so watch that if it comes back up and watch to see if the 2x1 holds.And watch the 1 year cycle off the June low (not shown)

      Delete
  3. Chartrambler25 May 2013 at 22:13

    eg watch to see if June cycle is a double top or if it makes a low then etc

    ReplyDelete

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