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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 30 May 2015

S&P

there has been a lot of "struggling"price action to try and overcome the February high. On Tuesday the market broke the bullish rising 2x1 angle  when time had squared price by 50% (305 points/153 days). Since then we have had 3 inside days so the direction of the break above or below Tuesday's candle will be significant and a sustained move below the 2x1 should lead to further weakness.I like that the recent top was 3 months from the high. A break above would be bullish,needless to say.

 On the weekly chart the previous week was a spinning top with a a bearish black candle with LL this week





Kimble has an interesting chart.....there's that number 7 again


3 comments:

  1. Nice site Fibo! I've been following they Murrey Math, more for price than time, but you know both his 16 and 32 day frames are 2 trading days away from major 0/8 time lines. So I think you're right, we may actually see a turn next week. Should be interesting.

    -One Louder

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  2. Thanks OneLouder I have to say as a discouraged bear I sometimes find it takes a little more effort to maintain than used to be the case but Im still trying LoL
    Thanks for the MM time insight

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  3. Apparently it takes a long time time to form a top. I guess it will come when they least expect it.

    -One Louder

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