kalinm- if the market wants

    Dangerous divergences developing

    Posted by matt on 11th of Aug 2012 at 02:49 am

    kalinm- if the market wants to, it can still work higher into the year up into the wedge, still plenty of room to go.  The 1450's may be a target over time.  However short term the advance is on lighter volume, Rut continues to lag etc.  A pullback soon would not surprise me at all.  If this ending diagonal pattern plays out the market has plenty of room to pullback as well and stay within the pattern, and of course still has plenty of upside room in the pattern.  I still 2013 is when the proverbial shit hits the fan.  I've also attached another daily chart that shows a shorter term wedge, and of course a weekly chart.  The final table shows the statistics of how the market typically closes the year after a 1st strong quarter

    Thanks Matt, there is a

    Posted by kalinm on 11th of Aug 2012 at 10:34 pm

    Thanks Matt, there is a good chance this keeps melting up despite many calls of a top.  It is too easy to blow through some stops at 1415 May 1st high, then the 1422 high all the way to the 1440 pivot.  Europe is on vacation anyway.

    Besides the statistical probability that this year ends positive, why do you think 2013 will be a down year?

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