lowtrade

[lowtrade]

Sometime things which happen in pricing just amazes me. I love TA & Charting ! It takes into account all things happening within a market and projects price and direction based on history. Meaning previously the underlying market factors which created this pattern, will cause the pattern projection to reappear.

Basic, simple, & clean: The odds are in your favor if you trade TA & Charts. No matter what's happening in todays market.

The S&P chart has been screaming "I need to wash back" for 4 weeks past the top line target, to fulfill the "V" bottom chart pattern throw back leg. It was delayed all the way to Dec, on good economic indicators, where history says a Christmas rally will take place. Thus I thought the pattern would fail and continue higher till end of year.

So here's the reason for this post.
"TA & Charting works more often then not."

Charting called for retrace, Market continued on economic strength. That strength continued during this retrace. All economic indicators were positive during price decline to gap fill and "V" bottom top line.

Makes one wonder what actually is involved in the investing publics minds to buy or sell. Market fundamentals or market chart history.

Why the sudden change in market mindset, when fundamentals continued to be positive. I'm not saying the TA & Charts changed their mindset. I'm saying things repeat. Trust TA & Charting over fundamental reality. History repeats more often then not! Doesn't really matter why. Look at Mich Sentiment; "blew out the numbers today!" S&P fell 1.62%

The market just fell 3%, in 3 days, on continuing strong economic indicators. http://www.finviz.com/calendar.ashx

Quote the Simpson's; Doop; The tail just wagged the dog.