might just be a double zig-zag, no? Point 27 could be
moved up to 1385 and be a nice looking bearish wedge -- very
over-lappy and very bearish. That band of pivots from 1363 -
1386 is very tough resistance. An over-lappy wedge that
exhausts itself at 1386 could spell trouble. Fifth down day
in a row at support.
I hope -- I'm as bearish as they come right now, but I went on a
vacation (flat in cash) and desperately want a short position.
Let's see if we bounce around this level.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
domed house
SPX Domed House Updated View
Posted by dallassteve on 11th of Jul 2012 at 09:48 am
Am I correct: a rally that takes us above point 27 would negate the domed house pattern?
This is certainly an interesting chart that you have been showing for several months.
might just be a double
Posted by kalinm on 11th of Jul 2012 at 11:22 am
might just be a double zig-zag, no? Point 27 could be moved up to 1385 and be a nice looking bearish wedge -- very over-lappy and very bearish. That band of pivots from 1363 - 1386 is very tough resistance. An over-lappy wedge that exhausts itself at 1386 could spell trouble. Fifth down day in a row at support.
kalinm - what you discuss
Posted by steve on 11th of Jul 2012 at 11:51 am
kalinm - what you discuss below would be perfectly reasonable as well.
I hope -- I'm as
Posted by kalinm on 11th of Jul 2012 at 02:36 pm
I hope -- I'm as bearish as they come right now, but I went on a vacation (flat in cash) and desperately want a short position. Let's see if we bounce around this level.