She be close to May 2008 ( burn the Longs ) Resistance on the weekly chart...how much tread on those tyres left ? American charts also look top-heavy.Could there be another lightning-fast drawdown and buy-back....### Dry powder and timing.So, fellow traders, what do YOU see ? Is this Wile E. Coyote Week ?
Drawing the Uptrend Line since 9 March 2009, we see a clear breakdown in May 2010.And Price tries to regain that line since then.And where does Price meet Line ? At the Gravestone Doji of 23 May 2008....###Do you hear the sound of One Hand Clapping ? Hummmmmmmmmm.....(heh).
Water is getting murky. On MACD daily all the major indicies have broken down, but I don't think we'll see a major correction. I think we're going to see more of what we experienced in the last two weeks: Choppy markets with a slight bias to the downside. Banking index is the one that's of interest to me. It's getting ready for a move, but I still can't predict if that move is going to be up or down.
Yeah, cheers for that....tricky stuff on the BANK Index( as leading indicator).Looks like a descending Fan formation?? on the weekly chart. When taking it from the bottom in Mar 2009.### BANK at 34200 would be my buy-back signal for the general mkt.(corresponding with the 38.2% Fib support. Just musing...
...and once again,on the MONTHLY charts of SPX,New York Composite...a Gravestone Doji is forming.## And here's the possibly-important blurb on THIS, the most ominous of all Candles >> "Prices rally but cannot stand the altitude.They Close where they started, at the Lows."## Yeah,I suppose the FED also sees it on the charts.As they ready that Quantitative Easing Pump for another workout >>>"Hey,pass the Q20,we got worn bearings here !"(Bernanke)...."AGAIN ? "(Obama administration, also known as Team Goldman Sachs.).##Conclusion:Anyway,keep that antenna up.Stuff is forming on the horizon.The Undertaker told me.Rest...in....Peeeeace !
Anyway,why should Zarp leave?His posts are creative but have never offended anyone like Chartist's did.Chartist was a good day trader and popular,but pushed the vulgarity too far.I guess that's why he got bounced out.
No Russ. Been here for a few years. Not disputing the fact that Chartist's comments were way below the belt. And not stating Zarp should leave. I also enjoy his posts. This chat forum got very dull after a lot of the more entertaining people don't post, have left or were forced to leave... (people like Chartist, Brazen, Gravy, ...)
JDT,I only asked if you were new because Chartist wasn't always very civil towards Zarp,amongst others,and I doubt Z would want to join C.I might be wrong but the idea just amused me.No offence!I had no problems with C so I don't want it to sound like I am dissing him when he's not here to defend himself.Some of his posts did make me cringe a bit because I thought his language was inappropriate for a forum of this nature.