Yes. Its me again. Just remembered few things that I said I forgot during my last post. The point I was trying to make about seeing new cars on the road is, there are quite a few scenerio's that may be in play. Firstly, if I assume all of them were bought with cash in hand, which means people have got that sums of money and they have already spent it on cars. So new car dealers might have done well in the past year and may continue to do well for next few months, until all of us have made equal with eveyone else. Also there may be an opportunity with the second hand car yards or scrap metals business. On the other hand, if it was purchased through either a car loan or any other form of credit, like novated lease etc, the private credit is booming, may be under a new name. You know as a human beings, we know one thing for certain that we'll do the same thing again and again but under different names.
Secondly to ww1, I sympathise with your situation of dealing with your son, who is currently undergoing diabetes treatment. My heart goes out to people who has to deal with medical treatment of their loved ones and for that matter any form of unintended sufferings. One thing that surprised me in your post was though, that you stating about money and how the medical treatment is related to how much funding it can get. I quote from a friend of mine, who said to me 8 years ago, that "the western world rotates around money". I didn't believe what he said at that time and I thought it was rude to make such a statement. But having gone through some experience, I also came to that same conclusion. I think it is better to accept the situation rather than to fight, so that we can make a plan and put our best efforts to how to get the best out of current situation. One real life example i can provide is, I was attending a biomedical conference in Sydney a while ago. One of the guest speakers was a venture capitalist, with Irish/Scottish accent. I quote from his statement, "Show me how I'll make money from your research work, than I'll provide you with seed capital". That struck me on my head and my belief systems. So called philantherapists. I used to work in Biomaterials Science and I don't work on that field anymore, due to my own personal conflicts between morals and ethics in that field. I chose to become an ignorant, so that I can live in peace rather than using my skills for the betterment of lives, as the society for which I want to dedicate my life to, has turned to other important things like money. Now a days I do not find anything wrong with that either. But I did enjoy working in that field for about 5 years, learnt a lot, but unfortunately couldn't work any more due to my own consciousness. Also that is the time, when my break also came. It couldn't have happened to me at any other time better than when it happened. So I sort of know the feeling, if and when someone can come and tell you, 'Hey look, we think we may have a solution for this. This is a new treatment and we think it will cure 75% and the rest will be cured by the patient's determination and workouts'. I was even reading somewhere this morning that there is a religion or sect within Christian community called "Christian Science", who does not believe in medical treatments, but only the will power for cure. All the best with your son's treatment.
I think it is time for me to post a chart, to show my ignorant talents on TA again. I would like to borrow wayward1's chart of XJO, because that pattern stuck me something straight away. Here is the chart with two lines drawn by me.
The big bar of that triangle is worth about 290 points. I see that the current price level is at the right place and time of the apex for a breakout on the upside. The minimum target will be 50% of that big bar, which is 145 points, which will take the xjo/spi or whatever the instrument may be on this chart, from the current level of 4290, which will make the target to be 4435. My apologies, as I work only on approximate numbers. I'm not looking for a precise targets or numbers. If I managed to get the approximate levels I'm happy. Having borrowed a chart for my spin, I looked at the daily and weekly charts with the means I have got access to. I got the following one, with few more lines marked.
One can see some simple support and resistance that might be ahead, if the instrument is going to play by the scenerio mentioned before. I say as the right time and place because when an apex forms, it normally breaks up or down at about 75% of the apex. I have learnt this from Oscar on youtube. That is the thought that struck me, when I looked at ww1's chart. I'm also getting different numbers when I use the daily, weekly and monthly charts. That is why I go for approximate values. Also please remember, I'm doing this for fun and I do not trade the XJO/SPI instrument. Can't wait for Sep/Oct this year.
(20min delay)