Here we see that the $SPX has fallen below an important trend channel but has stopped at a precomputed trendline just below that. It may be splitting hairs but it could bounce weakly back up to the blue lower channel line and then fail and continue down. Several indicators I follow leads me to believe that weakness is the name of the game for the near future, so such a scenerio is reasonable...Just for a sense of perspective, the 0.00000 point at the lower left corner of the graph represents the date, October 10, 2002....
Wednesday, March 12, 2008
Logarithmic time - $SPX
Here we see that the $SPX has fallen below an important trend channel but has stopped at a precomputed trendline just below that. It may be splitting hairs but it could bounce weakly back up to the blue lower channel line and then fail and continue down. Several indicators I follow leads me to believe that weakness is the name of the game for the near future, so such a scenerio is reasonable...Just for a sense of perspective, the 0.00000 point at the lower left corner of the graph represents the date, October 10, 2002....
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