For traders who trade off charts, we’re actually very much on the non-religious/cultish side of the powers of technical analysis. But once you see this “coincidence” of charts lining up with news happen a thousand times you have to become a believer. There was fundamental bad news all the time for months (Japan nuclear disaster anyone? Greece anyone?) But we started going into 2008 type crash mode ONLY after we broke the trend-line. Yet another point for chart-chompers.
For further reading on our mentions of the importance of the March 2009 trend-line from the last few months please see:http://highchartpatterns.net/march-2009-trend-line-sirens-calling/
As for our plan going foward please read from earlier today: Now we wait
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