Replies to post #52745 on Your Economy (No Politics) (YE1)

[coolhand]

That's an ugly chart, but it's fairly common knowledge that we have a H/S patten in play. I suspect it'll break to the downside in the weeks to come.

[Bullwinkle]

Beautiful chart Picassa, really lays it all out there. COMPQ 2150 appears to be the line in the sand, a lot of support there. A break could take us down to 1750, but that's an awfully big drop although is certainly doable.

OTOH when looking at this chart I see a massive inverse H&S with the head being the drop to 1250 in the beginning of Mar'09 and the neck line at approx. 2150 (there's that number again). That would be a 1250 (there's this number again) point climb to COMPQ 3400.

Do I think it will happen? I highly doubt it, then again having seen stranger things you just never know.

All just speculation on my part...

PS- It just so happens that we have a Bradley Turn on/or around 8/10, one of the stronger signatures for the year.

[frenchee]

Nice chart Picassa...

Could you please post a version that updates with time?

Thanks for your consideration.