Friday, May 1, 2009
The SPX Diagonal and Retracements
The ending of the diagonal aside, the MACD and RSI on the 60m chart are simply running out of room as their trendlines push them into the stratosphere. Basically they have bled this historic rally for all they can get out of it. Or have they? In a manipulated environment anything is possible. Where there are apparently no rules WTF do you do? Well, I'm not gonna join 'em at this time, but after this "expected" pullback I'll participate on the long run up to the 1,000ish area and will have my air sickness bag in hand, cause the stench of the fraud in the altitude of the market may surely make me spew.