2008/2011 Chart Update
With markets having put on nice gains during the past weeks on hopium of the Euro mess getting solved, let’s review some important charts. SPX has retraced approx. 57% of the move down from the highs we put in this summer. We are slowly approaching the 200 day moving average, and major resistance levels.
Compared to 2008, the chart set up is looking similar. Back in 2008 we had the same collapse, and we retraced approx. 57% from the highs made back then. The long term trend line was broken, and we traded below the 200 day average. The situation now is almost identical. If we are to witness another collapse of equities or not, you decide. With volatilities crushed last couple of days, fewer people seem to even consider another possible sharp decline in the equity markets. Stay tuned.
Some 2 weeks ago, we posted Buy the Dip (UBS Technical Research), but we believe it is time to take money off the table.
2011.
Approaching 200 day moving average and major resistance points.
2008.
We ran up to the 200 day moving average, and collapsed....
...and what is Copper telling us?
(2 votes)
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I think this change is visible now, but there still to be many similarities between the charts. Cazare Sinaia ieftina
And don't think Bernanke isn't obsessed with charts just like these. Minute we get near 200 DMA, there will be announcement of QE. Only problem is... Bernanke is such a psycho, that he orchestrated a bunch of leaks over the past week about QE3 to keep the market from falling during the 'Euro resolution' week, and now that's pushing oil up so high, that by the time he would really need to pull QE3... oil will be too high, dollar too low, etc.
There is a bunch of crap on the left side covering up the charts
Onto Dow 13K...everything is solved...consumer spending increases of 0.1% are enough to say "there will be no recession" and now the rumors of QE3 here are starting...the flea market has opened so don't get left behind because these dogs will go up 20% before someone trots out the "P/E of 16 starting to get a bit rich" headlines...
have been watching the 200...looks like we're at the top of the recent range so staying short...path of least resistance appears to be down imo
My guess, the agreement reached on Wednesday will be seen as too little, too late, and the markets will tank. Even if the sheeple manage to find a much higher dosage of hopium, after a rally like this and with the 200 day fast approaching, gravity is just beckoning...
We could just spend another month in the 1240-1260 range, bound in very boring trading.
imho the reason this rally has been so strong/relentless is that the target (the 200 day) is plainly obvious. and when a target becomes obvious, price usually gets there in a hurry.
with the added bonus that it has gotten people already throwing in the towel on the bear case for the year and for some larger idiots, all together.
maybe. let's see it regain the 200 first.
similarly let's see /dx break back below its 200.
On the May 6th 2011 flash crash, the stock of Accenture opened at $41.94 and hit ZERO at 2.50pm and closed at $41.09
We live in an insane world.
this time it's different...
nah, it's just worse
i think this shows whatever criminal market manipulations and price rigging the Fed-banking cartel gets up to the market is till behaving much like a market (in the main) bouncing around its 200 DMA's and other key trends.
I don't doubt as in the massive criminal actions of central banks worldwide rigging the price of Gold is a huge paper smackdown a few weeks ago these Govt Gangsters can have temporary impacts on the market. But i suspect like the central banks feeble attempts to control their currency, by pissing away vast amounts trying to politically mis-manage reality to what they'd like to hear, that the effects of their criminal interventions are brief (see ECB's and Swiss Banks pathetic results lasting barely a day or two)
The markets main trends will continue just as all political intervention in society and the economy (unless all-out totalitarian) is useless and worthless
fwiw dept:
vatican calls for a nwo central bank
note: nm rothschild's [ & sons] does its books,...
Vatican calls for...
Sigh... another sleazy opportunist.
I thought the Vampire Squid was the Vatican's central bank.
On second thought, I take sleazy back. Its not strong enough. I know too much of the hidden history.
http://www.factoverfiction.com/article/4659
Anyone have a line on where I can find a hopium den in houston?
Longwood & South, second house on the right its green.
It's between the massage parlor and the pawn shop, across the street from the coin shop and gun store.
It was former campaign office for the current prez.
Super charts, thank you. But what does any of this have to do with hopium? It is all so absurd.