Hi fellow w/end charting regulars; I am back on line in Broome after a cuppla months touring through Kimberley region (amazing country we live in; just a great part of the world).
Logged on for a read of w/end charting & was getting a bit concerned on what had happened to it until T91 opened the thread. Thank goodness.
A few observations based on limited data since I have been away:
-world continues to be a fairly scary place & I find it hard to believe that global debt issues are not going to re-emerge even bigger and uglier than ever; world banks and bankers seem to have just taken a lot of private sector debt onto public sector balance sheets (sorry to open with something approaching FA but had to get that off my chest)
-there appears to be a massive fight going on between bulls and bears at the moment; should be an interesting few months (years?) coming up; my tip is that we are in for a decade of markets that do NOT move in long straight trends like the last 20 years; markets will be much more volatile IMO.
-I updated my Hubb charts (about 50 in total) last night & was jut staggered by how many of them had fallen significantly below the prevailing pichforks that I had drawn in early May; a large majority of them have broken well below the support tine. Not sure this would have been so obvious to me if I had been following them on a more regular basis suspect I might have just redrawn a new better fitting fork. Have to think a bit about this & conclude what that means.
-my aim was to finalise a trading plan while I was away but that has proven harder than I expected. I have a battle going on within regarding longer term assessment based around MAs, pitchforks and simple trend lines & shorter term strategies based around the above plus some of the more sophisticated measures presented on this & other forums.
Anyway its great to be back amongst the HC community & good charting all. Will struggle to find time to post charts this w/end as preparing to return to cold old Melbourne town but will read thread with interest! GJ
