Thoughts....
The recent action in the market isn't providing me with many new and objective setups to post. When it does, I'll get them up as quick as I can.
With the 2002 lows now being taken out, the next area of significance to keep an eye for the S&P 500 is 650. This is illustrated on the monthly chart in the "Index Watch" by a trendline that extends to 1982. Another chart that interests me in the same section is the monthly chart of the U.S. Dollar. As it approaches the Right Shoulder in the massive Head & Shoulders pattern, it's possible this phase of the greenback rally may be nearing an end, which gives me a little hope for the market.
I'm going to post some of my scans during the week with examples.
With the 2002 lows now being taken out, the next area of significance to keep an eye for the S&P 500 is 650. This is illustrated on the monthly chart in the "Index Watch" by a trendline that extends to 1982. Another chart that interests me in the same section is the monthly chart of the U.S. Dollar. As it approaches the Right Shoulder in the massive Head & Shoulders pattern, it's possible this phase of the greenback rally may be nearing an end, which gives me a little hope for the market.
I'm going to post some of my scans during the week with examples.
Comments