and speaking of the super moon. I suggested a few weeks ago that...

and speaking of the super moon. I suggested a few weeks ago that we might have seen a sharp decline in indices a la 2007 and 2011 as we came into this August super moon. Didn't happen here or in the US where the retreat as been relatively mild. Germany has that whole full moon thing going on but Portugal takes the prize this time for full blown lunacy. I suggested yesterday morning that Portugal may have hit the bottom but they blew straight through that last night. Today I have redrawn the neckline to account for the sloping head and shoulders and again I ask...has Portugal hit a bottom?? Portugal also hit some diagonal resistance last night so that might add to the weight of evidence but the actual full moon is on Sunday so, who knows...maybe we won't see a bottom until Monday night....but you'd have to think Portugal is closer to the bottom than the top