Wednesday, July 08, 2009

The art of chart (SPX)

You all saw that chart many times, nothing from the past is removed (except for some not anymore needed drawings), just new drawings are being added as time passes by.

/ES S&P500 Index Futures Roadblocks


I’d expect SPX to be at 847 level by next Tuesday July 14th IF if will fail to close inside prior (invalidated as of today un-perfected daily buy signal during ongoing weekly perfected sell setup) risk zone.

That “yellow circle” which was on this chart for almost 2 weeks – this is where we are now. Check.

Not advocating that “TA RULES!!!”, just saying that there are some people who don’t know how to use it.

P.S. I do a lot of INTRADAY posting on DISQUS – shall anyone care for such things as calling top in OIL on June 11th 2009 or “Short GS at 149-150 on June 29th 2009 – you are welcome to subscribe. (Surely you will have to deal with some “noise” – I have lots of friends :)

P.P.S. Do everyone a favor – send Dennis Kneale email and express your deepest sympathy – that is how we treat “special” people (instead of telling them the truth), it surely not fault of his, he was just born that way.