A Picture is worth a thousand POINTS...

Discussion in 'Technical Analysis' started by circadian, Oct 2, 2008.

  1. pretty much sums it up. I did not mean 1,000 pts on the S&P for you ES swingers, so don't take it personally. see the chart, be the chart. :cool:
  2. So, let's throw some nice, round numbers around here:

    approx upper limit of Head - 1430

    approx neck line - 1230

    Therefore, if we're gonna go by the old H&S adage, then we shold see an approx price target of 1030. I've marked that on my charts. Sad thing is, that might just be a point of hesitation on the downward march. Once again, rounding numbers here, I've gone brain dead from listening to the Biden/Palin debate and don't care to do really acurate math. I'll leave that to our ET sticklers. If it doesn't come to fruition, good; if it does, not so good.
  3. the chart says we're due for a bounce?
  4. Usually, the return move finds overhead resistance at the neckline, and/or the minimum point at the beginning of the 2nd shoulder. So, we won't exactly see DOW 14,000 if that's what you're implying. Another little bear market bounce maybe. This little tidbit of information was brought to you by John J. Murphy. Enjoy yourselves.
  5. In other words around 19%. At least your beating the mutual funds if those are your real trades.
  6. Darn....those woodies ghosts are hiding everywhere! :eek:
  7. Looks like a KKK pattern.
    The Kilroy pattern is more rounded.
  8. 95% of mutual funds are negatron on the year, not really sure what you're saying. So....I guess I'm gonna....go....now? Good Talk Neo, (if that is your real name) :cool:
  9. Look at that, 1030ish looks like it's support so far. Who knows what will happen between now and the close, though.