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clock Created with Sketch. 26/07/14
12:54
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Originally posted by paddington bear
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An inconclusive night again on New York but I have spent a lot of time this morning just looking at the charts and I can’t help thinking that the SPX reminds me of the mythical multi-headed snake or to try and explain further, a head and shoulders top pattern with double shoulders. Regardless of whether this proves to be the case, I think it looks as though it wants to go back and have another look at 1970 (which is the neckline) or even last week’s low around 1955. If it does that, it is going to look very much like a top. So a pretty cautious time just ahead of us. The only way to avoid this now, I think, is for it to get a move on higher IMMEDIATELY. No more time left for this stuffing around.
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Paddington Bear: interested in hearing more on this. Could you please link me to a previous post that you may have expanded this topic on. Many thanks, in advance.
(20min delay)
