actio-et-reactio
Balance is but a brief transition between extremes.
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Saturday, December 20, 2003
From the vault: Viewing the SPX Monthly close
From the vault: the monthly CLOSE chart (#1c below). It shows plausibility for a move to 1115. HOWEVER, negative divergences (RSI -Reversal and ROC weakening) indicate thin ice. As bullish as the 'breakout' from the weekly wedge may look, and it may indeed tag 1100 before a larger correction, a better (ie, longer term) bullish move will come from some sort of a pullback FIRST, which may not come until just after the start of 2004.
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Labels: chart-analysis
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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