Saturday, April 11, 2009

SPX 6 month channel

Everything here points to a turn south. I'll add more posts to try and verify this later. There is a possible inverted H&S on SPX 30m but the indicators say it won't play out. I like this channel a lot.


  1. fantastic chart..... but I've been looking at the 10yr and the shorts may be in worse trouble than we want to admit, especially with the fake "fix" in financials..... I hope they sell the goldman news, but I'm staying in cash and daytrading till the gap up business and banks have reported.... too much pain....

  2. This is one EWT guy you want to subscribe to, that is if you can stomach the idea that we are in 4 of P1.

    His view is very good and he covers a composite of indexes which is smarter than getting fixated on one like some people (kidding!)

  3. speaking of EWT ...
    if we are still in P1 and this is wave 4 of 5 of P1, could it be that the market is forming a running flat?

    Wave 4 of 5 of P1 running flat:
    A (741 - 944): 203
    B (944 - 667): 277, B almost 1.382*A
    C (667 - 870): 203, C=A


Keep it civil and respectful to others.