$SPX Psychotic Line Resistance

Posted by Investing Freak on October 21, 2009
Market Analysis

It was a fun day today.
Market opened up and rallied 10 points by 10:45AM.  It was all downhill from there but the big kicker came at 3:10-4PM when the market dropped 17 points.

I will let 2 charts and this link be the hint of what I think we are going to do in the next few days at least.

Chart 1 is a closeup of the past month with the trend lines drawn almost a month in advance. (Click to enlarge)

spx102109

Chart 2 is a zoomed out view from where the rally began. (Click to enlarge)

spx102109-2

That’s all folks. These are the charts promised almost a week earlier.
Have a safe investing season this fall/winter it should be epic.

-K

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