This chart demonstrates the bearish upwardly sloping triangle. Using this thesis and this thesis alone since 2004 would have made you rich. Look at what happened each time the price was forced into the upwardly sloping triangle. If I showed this chart to a class of freshmen in high school, I believe they would be able to make a deduction of what comes next.
Michaal scott, your delusional. Your seeing lines and patterns where they don't exist. All those lines are a confusing mess. But your entitled to your opinions; just don't keep changing them. And past performance isn't indicative of future results.
Now here is my prediction for the Shanghai. First lets look at the KBHome chart. Why KBHome and how does it relate to the Shanghai? KBHome and the Shanghai are obviously two different things, but the concept remains the same. When an equity or an index rises above its primary trend line very quickly, it never lasts. This is what we saw in the Nasdaq in 2000, in October 1987 and in the 20s crash. We have seen it with KBHome and Jones Soda. We have seen it a million times, but some of us still dont know what it is. Once the Shanghai violates the trend line its on then there is no turning back and it will be a long way down and probably will go under the original trend line which sits at 2250.
and the shanghai... This chart is not exact, but implies that a drop below 3800 could produce some consequences. 4300 is a key level
Not a lot aof wiggle room with SPX 2 pts away from your 1532 "Apex"... You have to concede that market needs to smack down more shorts before your 100 pt "breakdown" occurs... I'd bet you alot of money that this 1532 number means squat to uptrend or downtrend etc...Some TA folks must be cringing at your Jim Jones, purple sneaker pontifications of these "APEX" points and what they mean. Can anyone on this site vouch for Michael Scott TA prowess? I'm starting to believe the Office Manager is having a little fun with these threads.
I pray for you Michael you're not actually positioned as short against the market as your posts indicate If you're negative about this market I think the best right now is cash and a lot of discipline waiting for real technical damage - a 5 point drop on average volume is not damage but a minor blip.
michael, JUST STOP! You're making me dizzy with your back-and-forth "new economy" going up, going down, shanghai/kbh, etc. etc. ad nauseam stream of bullshit. If someone posted a bunch of economic statistics about New Guinea and then said that housing in Lower Manhattan would suffer based on what happened in New Guinea provincial economics, wouldn't you think they were a little nuts? Especially after they said things are going to rocket! You just sound like a recent college graduate with bad ADHD and bi-polar disorder who can't make up his mind. Here's a test...post a list of all the stocks you've recommended and where they're at now....I think you'll see the perception many have of your stock picking/economic prowess.
I know people here are manic, I'm one of the many! But this one is actually making me dizzy with his flip-flopping...I actually feel a bit woozy reading his predictions and his comparisons are something out of this world.