Thursday 29-01-2014

Easy Head and Shoulder

Here's an easy way to figure Head and Shoulder targets.  

• Using a channel with an additional channel set to -1 
• Draw between the two low points on either side of the Head, and set +1 at the top of the Head
• Then using a Time Line place a vertical line down from the peak of the Head
• Next draw a Target Price Line at the intersection on the Time Line and the -1 Channel line.

Saturday

I was wrong to say the trend had changed.  I should have trusted the forks.  2040 is still looking like a good target.

Thursday

I have redrawn my forks to be as bullish as possible.  If broken the target will be the magenta trend line.  1600 +/-50 handles.
Resistance lies above at 1900.

Wednesday

The market has smashed though all supports and broken the fork from 2009.  Look to the magenta trend line and volume profile for areas of support.  Watch bonds, and currency markets for further insight.  Listen for news from the IMF.

This is historically a bearish year because it is a Sabbatical year known as Shemittah.  Shemittah year will be the year 5775 after Creation, which runs from Sept. 25, 2014, through Sept. 13, 2015.

Are there any good financial blogs that use astrology? 

Destruction of all we know. Complete control.

Tuesday

Yesterday the market fell through the 1890 level signaling a reversal

Support lies between 1848 and 1865 with resistance at 1900, 1935 and 1985

Trend lines and volume profiles will be the most helpful tool for finding new targets until downward forks can be established.