Don't forget EURUSD daily / weekly charts are definitely bearish and vice versa USD so it's only a matter of time before EURUSD rolls over and stocks drop significantly.
Again, memories of what you posted on August 15th, 2010 on your blog : " DOW and SP500 weekly charts Fri Aug 13 inclusive. The indexes continue to be pulled in opposing directions by the buyers and sellers â as exemplified by choppy price action and megaphone wedges. Daily charts are bearish to neutral. Weekly charts are bearish to neutral. Monthly charts are bearish to neutral. As mentioned earlier, weekly and monthly charts have been topping and basically going sideways since early May 2010. This topping process will cease and increased selling pressure and more bearish consensus should result in a more pronounced downtrend developing. EURUSD daily chart is bearish. Weekly chart is neutral. Monthly chart is bearish to neutral. The opposite applies for the Dollar Index so further USD upside is still expected. CRUDE OIL daily chart is neutral to bearish. Weekly chart is neutral. Monthly chart is neutral to bearish. COPPER daily chart is bearish to neutral. Weekly chart is neutral. Monthly chart is neutral. Copper long term charts have not been bullish for some time â warning whatâs ahead for the global economy. Unfortunately the March 2009 lows will be breached as long term trends remain bearish. " I'll repost this here and there to remind everyone of your history. I guess I may have to do this many times, because you will no doubt repeat your faulty old calls many times.
Now quarter end equity rally has presumably ended, EURUSD etc overdue retracement can begin. Recent DOW/SP500 candles indicate recent rally involved significant short covering. Prepare for the next Black Swan CRASH which will be "unexpected and could never have been predicted" http://stockmarket618.wordpress.com [Warning: Nine_Ender is an unbalanced internet stalker who clearly needs professional help]
Consider yourself fortunate, Grand. Not everyone gets stalked by a beautiful female. THEY say, one should make hay while the sun shines. Remember you promised to follow one of deadbroke's tenets .... Rent, don't buy, when one bus leaves, another shows up almost immediately.
I appreciate your considered opinion DB. But have you seen 'Fatal Attraction' ? ----------------------------- Extreme overextension from recent rally should result in significant retracement.
S&P500 daily charts show updated rising wedge and possible head and shoulders pattern with target of 1150 when confirmed. Recent aggressive buying and short covering is revealed by very bullish candles. http://stockmarket618.wordpress.com
Since DOW/SP500 is now EXTREMELY overbought, the reaction next week should result in a significant retracement.