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.
Sunday, September 28, 2008
$NDX - Somewhat cleaned up chart...
It does look like a bottom off of the trendlines, although bottoms are much stronger when they reach major time nodes like .5 or 1.00. This bottom is engineered, not natural, doesn't meet that criteria...
Hi d, It's a little ambiguous, but that's how I saw it...looking back a few days you can see the most recent $SPX chart I posted shows a 1.00 node and then a decline started. Because the $SPX has all of the banks in it, I give that extra weight. This bottom we're sort of at now has been engineered and is not natural. I doubt it will hold...It's hard to say, we might get a rally here anyway because the end of September-early October period often does that. But the technicals I produce and the market fundamentals, which are beyond lousy, doesn't give the bulls much to work with..
2 comments:
top at the 1.00 node?
Hi d,
It's a little ambiguous, but that's how I saw it...looking back a few days you can see the most recent $SPX chart I posted shows a 1.00 node and then a decline started. Because the $SPX has all of the banks in it, I give that extra weight. This bottom we're sort of at now has been engineered and is not natural. I doubt it will hold...It's hard to say, we might get a rally here anyway because the end of September-early October period often does that. But the technicals I produce and the market fundamentals, which are beyond lousy, doesn't give the bulls much to work with..
Regards,
Mark L.
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