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Monday, November 7, 2011


Did you like the last video I linked?

If so trust me. This hour long Nova is incredible!
The Fabric Of Space

Is it any wonder that Fridays post started with "I don't know".

The market Closed at 1250.75 on Friday.  Today the market opened with a small spike up to 1259.50, then fell to 1232 and rose to 1256 then fell to 1236.50 and finally finished at 1257.25.  Quite a wild ride for 6.50 handles.

I'm still not sure, and doubt the market is either, but we have established a channel and since the larger trend is down I'm guessing swing trades are best done to the short side with the acknowledgement that the Bears may have to endure some pain before the market finally decides to fall through support.

I suspect we have either made the peak or are close to a peak.  That Green line just above at 1275 is the most likely target for now if the Bulls can manage to pump the prices any higher.
Should we manage to break through that fork I would have to reassess one more, but it looks like a solid and well balanced fork.  But remember it is a rather larger degree and 10 or 20 handles would not be significant to the balance.

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