Tuesday, 31 August 2010
Sunday, 29 August 2010
This chart was first posted on May 25th. 5/8 time and 3/4 price produced a reversal...now threatening to break important angle support.We had an October to April 6 month high to high cycle...will Oct bring in a major low with another 6 month /1 year cycle ?
Saturday, 28 August 2010
Friday, 27 August 2010
This index is finding support at the 50% mid-point of the major trading range,approximately 600.We could rally to 640 but it seems only a matter of time before the index breaks down.(see the earlier post with the ominously bearish quarterly candlestick pattern.) Risk/reward does not favour buyers !
Sunday, 22 August 2010
Looks very similar to the 2007 top,with a 1,2,3 reversal and crossing of 13,21 and 55 sma's.Currently 13 week sma is below the 21 and 55 but 21 has not yet crossed the 55.Weekly trend has turned down with this weeks lower low,confirming the 1,2,3 high...fast moves come from triples !