Important signal today. Market reject again 1176. Need confirmation next sessions ( need to close hourly cash below 1163 and confirmation with a close daily below 1151.
Last update daily chart spx here http://bit.ly/9XGiuu
Bearish pattern can see here http://bit.ly/85tESC
Road map next session here http://bit.ly/a6TaZt
I guess my market call of top at 1165 or thereabouts was a bit early. Market is floating up, bulls aren't really giddy though.
ReplyDeleteDon't believe this BS about "recovery is proceeding", when all the bad debt has simply been hidden (not marked to market), and the incredible amount (like $650T) of dervitives that are "bet" is roughly 10 times the worlds GDp (which itself is inflated, by recent easy money).
I should have believed what I wrote last fall...this market will go up until it doesn't. It will be a sad day when those bold enough to open their eyes to the truth actually count the cost of all these shenanigans.
Some blogger posted up a comparison to 1907 panic, and it looked really close in proportion and time, and showed another 10% up from here.
If you don't already believe anything is possible...well....
Fear Factor looks totally different in log scale, in fact it contains the recent rally in the channel. Just discovered today, VERY INTERESTING.
We have always maintained that when the lower channel line is broken to downside....then GERONIMO!!!! I will then be ready for a big down.
Eur/USD hit my sell on weakness trigger tonight, probably will be whipsawed out, but stop is already at a small profit, so no harm.
http://oahutrading.blogspot.com/2010/04/top-o-morning-to-you-and-fear-factor.html