Wednesday, July 14, 2010 6:04:53 PM
Hello FFSF, I am glad that you appreciate my charts. I took some time to update what I think is lying on the plate in front of us.
Everyone - Please read ALL the way through
Alright, a lot of the naysayers here like to post a 6 month chart so I suppose that I will do the same...
Yep. We sure are in a downtrend according to the 6 month chart...
Well FFSF, I guess that's it. Run for the doors..
Wait a second...
What ever happened to looking back 6 more months? What's this? A 1 year chart?
Ohhhh.. I see the bigger picture now.
What this is telling us is that we are at the x-roads. Our 6 month short term down trend has just knocked on our 1 year big brother trends door. This is a trend that has been carrying itself since it touched and tested in mid September '09 as well as mid December '09, and we just tested again in mid July '10. Could get kinda messy...
Hmmm..Wait a moment..Something looks strangely familiar here when we step back and look at the big picture at a second glance..Doesn't it?
Does this not almost just look like a magnified version of the smaller move? It looks like the last time that big brother trend was tested he fought back.
But on the same token, what would cause panic? Piercing this beast, which I am somewhat expecting but not for long. Just enough to test the holders to their last nerve before breaking loose.
I believe that A Simple ABC Correction is still in play here around the .20 range.
For my full post of the Simple ABC Correction please see - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=51992384
Thank you for reading the WHOLE post.
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