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Interesting we are overbought on longer time frames. Good sheet!
Sehr Interesant!
Looks like your right about being up today, even though DAX and CAC was actually open even though Bank/Religious holiday…thought they were closed cuz FX Calender indicated it? Basic Materials.
I was kinda falling asleep on that late night post above…it was Basic Materials are in rally mode in China and europe tonight….interesting that it did not follow thru so much into US markets so far.
I actually go back to this chart quite frequently. The scary part is that it’s a long-term H&S pattern. God only knows what the long-term target is once we break 7000. Needless to say: the long-term outlook is pretty grim for the equity markets.
We’re not breaking 7000 unless some major catastrophy hits and charts wouldn’t matter at that point.
The market is going to be a bag of shit for quite a while though, I probably will increase my cash beyond the 50% mark on the next rip.
The market is currently untradable, boring as hell but I’ve lost all the money I am going to this year.
inflation adjusted… Dow 9500 is the new March 2009 lows, if that. You forget the Dow is based in dollars, an ever devalued medium of exchange.
Eggs-actly.
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