Saturday, February 20, 2010

Kid you NOT or SP500 Evil Ways

He did not complain in any way about the bad reputation he enjoyed all over the world, assured me that he himself was the person the most interested in the destruction of superstition, and admitted to me that he had only been afraid for his own power one time, and that was the day when he had heard a preacher, more subtle than his colleagues, shout out from the pulpit:

"My dear brothers, never forget, when you hear the progress of enlightenment vaunted, that the devil's best trick is to persuade you that he doesn't exist!"
translation by Cat Nilan, 1999

For the "memory impaired" (such as myself) here is a pointer to my old, as of August 2009, post  What is next for SPX?  with one …err with two/too cool state of the art charts (and as mentioned in that post – second was MY preferred scenario).  Do spend 3 minutes – look and read that post.  (Just don't get too cocky looking at the dates – I did put a note at the bottom of the chart stating that "all times are ideal and WILL change)

Without further due I am presenting you with the chart of S&P500 which will cause great distress and a lot of critique around Blog-O-Sphere and, once again, will cause some bears to hate me because they are not beautiful (Shut the hell up, yes, you, yes – I did not ask if I am handsome, it is NOT the point)

If I am wrong – so be it, I am not a long term trader anyways, but if I am right – I hope never hear anyone mentioning Pee on The Three and similar "gurus" ever again ( we are here to use OUR analysis, our skills acquired based on personal learning and understanding of different methods of technical analysis – not for blind repetition.)

With that I'll leave you to have plenty of time to scratch your heads and discuss "what head doctor that Mad Russian needs now" and while you are doing that – read latest from our DeMark-ian compadre:


Here's an updated D-Wave chart showing the Daily overlaid on the 30 -- the only two that seem to be working together at the moment. The hourly has the same profile as the Daily at the moment which seems odd. I have a scenario for that which is kind of far fetched, but if it should start to play out Ill explain it.
blog comments OCCASIONALLY powered by Disqus