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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 September 2010

QQQ's

The high octane nasdaq stocks have led this rally as fund managers chase performance for the end of the quarter.This rally looks similar to the rally that preceded the April top ie very few pullbacks and lots of gaps,low volume.Healthy,"normal" rallies have pullbacks and resemble a stair-step pattern.These kind of rallies tend to be unsustainable and the gaps usually get filled.I have only highlighted the more obvious gaps.Even the Dow Jones is showing gaps.I believe this supports the case that we are close to making another top.There is Gann resistance at 50 as this is double the low at 25 in Nov 2008

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