Long-term down trend meets gap
Interesting chart.
While I did not draw the lines on this chart, take a peak back in June 2007 and draw it to today. Yep all the other peaks between then and now go right up to that line a fail. Now draw a flat line from the gap as the market fell into the abyss to today.
Notice the down trend line meeting the gap line - We could be in for a melt up or a melt down. I have little to no confidence in going higher, I do not see the US consumer recovering any time soon, more importantly the American Consumer may have equated their consumer driven disposable lifestyle to GLOBAL WARMING and the destruction of the environment.
While I did not draw the lines on this chart, take a peak back in June 2007 and draw it to today. Yep all the other peaks between then and now go right up to that line a fail. Now draw a flat line from the gap as the market fell into the abyss to today.
Notice the down trend line meeting the gap line - We could be in for a melt up or a melt down. I have little to no confidence in going higher, I do not see the US consumer recovering any time soon, more importantly the American Consumer may have equated their consumer driven disposable lifestyle to GLOBAL WARMING and the destruction of the environment.
Posted by Bradley Fluetsch at 10/20/2009 4:32 AM 
Categories: Speculation
Tags: domestic stock 500 equity index SP500 SPY Poors Standard
Categories: Speculation
Tags: domestic stock 500 equity index SP500 SPY Poors Standard
Comments