Thursday, June 3, 2010
This morning's $SPX charts (so far)
Basically, these charts seem to be saying that we are now at another 'top'....This contradicts the daily MACD indicator and the put/call ratios, which looks so much like a warning of the beginning of a new up trend. The day is still young, but as of 10:50 CST, today's candlestick DOES look like a top,,,
The top chart shows a conventional trendline that will probably _not_ work...The bottom two charts show trendlines that _should_ work....
(Click on the individual charts to enlarge them)