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Chart Patterns are nothing but Footprints of the Greenbacks.
Monday, December 19, 2011
Remember that 2009 trendline
We wrote about the $SPY 2009 trend-line on this blog at least a dozen times earlier this year — it was for us the only chart that counted. Take a step back and take a look at what the market has done since we broke it– churn. Like a dumb old fish bobbing its head up and down in the water. A bunch of nothing.
Market looks like it’s establishing a new trend-line range:
Taking that into account with what we wrote about yesterday, it looks like we’re in for some interesting times.