ok...in my week off(while waiting to open my new acct) I've gone skiing, ice skating, hit golf balls, had a FEW drinks...but like most of us I am continually pulled back to the charts. So I've been looking at charts all morning and decided to post this one. Though it might be fun to have anyone who's interested to post their thoughts on the chart...and to try to guess what the chart is ? what time frame? what's the best guess as to where it goes from here? at the end of the week I'll reveal the chart in it's original form. The winner gets nothing but bragging rights.
Good guess Lonehand, but as usual you're WRONG! Are you still shaking guys out of positions in the chat room? I'll be back in there as soon as my new acct is ready. So then you'll really have someone to shake out.
and we have a winner! that was too easy. Lonehand was close, but I couldn't let him get away with that. now that we know what it is...any comments? predictions?
My 2 cents ... I would say its down from here. If history says anything about the future the current price to earnings ratio is way too high for the S&P and definitely for the Nasdaq based on historical data of the S&P over the last 70 years or so. Or could we be in a new era where higher price to earnings will be the norm and justified?