Orright You lot, Listen up.one week ago in a quick discussion...

Orright You lot, Listen up.

one week ago in a quick discussion with volt I mentioned that 4750 ish spi was critical and a break of this would be a good indication that downside on the daily would be a happening thing.

Sunday I put up a daily chart showing that on the MACD we had an almost exact copy of the pattern MACD moving averages as occurred during mid Jun July, the most marked down period in this run upwards from March.

In defining the (new name, used to be the whooshka) winkinMACDSpraff I have pointed out that price has three bashes at the 21 period moving average in either a down trend or up trend and the third bash is the clincher.

In defining targets I have provided a methodology based on divergence as depicted in the MACD Histograms where the extreme histogram at the beginning of divergence gives one a reasonable target area for price to go to after the third pierce.

At this point as depicted on the following daily chart...




we have broken 4750
price has pierced the 21 moving average for the third time in the latest run up

We have a histogram based target of around 4100 mentioned by rembrandt and others for some time as a downside target.

we are an extremely long distance away from the 200 period moving average.

My question is... should I go long???

;)