Interesting to note that OEX (the S&P 100, which consists of all the companies who have charted at least one Billboard Top 40 single during the past year, such as McDonald's, with their number one hit "I'm Lovin' It") reached the equivalent zone that SPX was "supposed" to.
"WE NEED MORE FOOD YOU MORON"
So I stand corrected. But SPX still hasn't tested green, of that much I'm certain. (Also, I just noticed that every subsection of this so-called "rule book" contains that exact same sentence.)
In conclusion, if bears can hold 4193, then the market could still be on track for a test of the green trend line (or below). If they can't, then the diagonal outlined on the first chart would become one possibility. Trade safe.
I like the ending diagonal theory, but I was wondering if you think there could also be ending expanding diagonal (with 1st peak of 4/16)
ReplyDeleteYou are among other things....a very funny guy. Thanks for a few hearty chuckles.
ReplyDelete