Big Picture: Apr 2, 2012
Medium Close-Up: Apr 2, 2012
The purple Butterfly pattern completes at 3295.62, though that would mean either breaking the beautiful channel that’s formed since 2006 or simply waiting till June 2014 for the slope of said channel to catch up with 3295.
Close-Up: Apr 2, 2012
Since COMP recently tagged the red channel line for the fourth time just above the 1.272 on the small Butterfly pattern (red) with a nice topping candle pattern, I’m inclined to expect a pull-back very soon, with a subsequent rise to 3251–3295 before topping out.
Medium Close-Up: Apr 2, 2012
The purple Butterfly pattern completes at 3295.62, though that would mean either breaking the beautiful channel that’s formed since 2006 or simply waiting till June 2014 for the slope of said channel to catch up with 3295.
Close-Up: Apr 2, 2012
Since COMP recently tagged the red channel line for the fourth time just above the 1.272 on the small Butterfly pattern (red) with a nice topping candle pattern, I’m inclined to expect a pull-back very soon, with a subsequent rise to 3251–3295 before topping out.
Interesting with the big picture. The 2 prior tops are clearly shown. (not sure about the current one as it might be the 3rd top)
ReplyDelete(1) The Year 2000 top caused by Internet madness.
(2) 2007 top caused by housing bubble.
(3) A top caused by "strong recovery with more QE to ensure recovery with more QE" or just Apple!
I keep hearing talk of recovery but where. Home sales down, housing starts still near lows, manufacturing still disastrous and looking overseas to Europe and China and things are worse than ever.
ReplyDeleteObviously I must have my eyes closed or be looking in the wrong place because I just can't see it.
You don't see the recovery and you are not alone. From Apr 3rd edition of Wall Street Journal, you can see the article "The Worst Economic Recovery in History" in opinion section at page A15.
ReplyDeleteMeanwhile, I got a forwarded email from a relative (who does not look at stock market) to tell me that stocks have the best year since 1998. Time to buy or not?