AuthorTopic: A Chart to Remember  (Read 481 times)

Offline Eddie

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A Chart to Remember
« on: December 13, 2015, 07:18:47 PM »
Years ago now, when I used to actually try to trade markets, I got more out of my Clive Maund subscription than many of the others I tried. I always found him to be an outstanding chartist. He's looking for a real train wreck in the equities market in 2016. He thinks the downside is potentially quite  a plunge.



http://news.goldseek.com/CliveMaund/1450029600.php
What makes the desert beautiful is that somewhere it hides a well.

Offline MKing

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Re: A Chart to Remember
« Reply #1 on: December 13, 2015, 09:17:10 PM »
Wasn't someone claiming that a chart like that except coming to a point on the right side was the reason for the collapse of the world that hasn't happened? And this was all like...6 months ago? Because that chart had this nice point where everything was supposed to happen, this one opening up on the right side seems to imply something completely different, like unlimited possibilities and techno-topia?
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Offline Eddie

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Re: A Chart to Remember
« Reply #2 on: December 14, 2015, 07:03:36 AM »
When a chartist tries to look into the future, he looks to see where the strong support areas are, and where the resistance areas are. In a topping market, support is the first place he looks.

 All that chart shows is that there  isn't a great deal of support until a much lower level is reached. It doesn't say shit about where the market is headed, just where a bottom might be in a worst case. I think we can all agree that the Fed will go all out to keep the bubble inflated.

What I don't know is whether they can (for the moment)....and how much longer they can keep the markets bubbling, with so many negative indicators. Not forever.

I am not looking forward to a market crash, but the handwriting is on the wall.
What makes the desert beautiful is that somewhere it hides a well.

 

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