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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Monday, September 15, 2008

Broken lines

Wow, if you are a trader you ar oving this environmnt. Otherwise, the whipsaws from tops of ranges to bottom of ranges could test one's fortitude.

It is noteworty that the S&P precisely touched the July lows and does appear to have more room to fall.


The VIX blew out the top of the downtrend and is definitely a barometer to keep a close eye on for a direction change.

Another way to will be GLD. Its just uncanny how GLD has bounced off the FIB extenision and retraced back to a fan line.

Also, the FXI or China index broke a long term trendline as the Chinese government lowered their rates today. I believe the bottom will be tested here before any sustainable bullish movements on the American side will hold.

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