The home of the innovation of the Logarithm of Time as applied to the Markets.
We also watch for and correlate with major Bradley dates and Fibonacci Time and Price sequences.
Wednesday, August 27, 2008
One thing holding the markets up...
One thing that may be supporting the markets is this wedge structure, which could eventually be Bullish on some time frame in the future, hard as that is to understand (even by me!)
4 comments:
Anonymous
said...
Are you changing your thinking from sell-off to continuation of rally (or even a bull market)?
Hi Guys, I saw the market rallied today, but I think it will be short lived...The Nasdaq in particular looks like it is rallying marginally..
That said, the conventional trendlines on the $SPX, suggesting a wedge, may mean the market will drop slowly..Not much food here for bulls or bears, but a slow deterioration..
4 comments:
Are you changing your thinking from sell-off to continuation of rally (or even a bull market)?
Mark, if you draw the trend lines again, you can see that SP500 is right now hitting a resistance at 1298~1300.
Breaking above means next stop is 1350, then 1380.
Hi Guys,
I saw the market rallied today, but I think it will be short lived...The Nasdaq in particular looks like it is rallying marginally..
That said, the conventional trendlines on the $SPX, suggesting a wedge, may mean the market will drop slowly..Not much food here for bulls or bears, but a slow deterioration..
Mark L.
Im seeing the end is near also
Here is just two of many like this
http://stockcharts.com/h-sc/ui?s=$TICK&p=W&yr=2&mn=5&dy=0&id=p20213743848
http://stockcharts.com/h-sc/ui?s=$NAAD&p=D&yr=0&mn=6&dy=0&id=p04429698160
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