Thursday, May 14, 2009
SPX New Channel Down?
I was looking for patterns and think I may have found something. If the turn is real and SPX topped at 930 then there should be some form of pattern headed south right? I threw a channel on it and some 25, 50 and 75% lines and lookie here. Each interior line managed 3 to four significant touches. This is IMO of course, but might prove to help us identify some key points. The brown box is the 50 to 61.8% retracement zone.