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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.10

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To: Johnny Canuck who wrote (50784)	4/11/2014 8:50:20 AM
From: Hawkmoon	Read Replies (3) of 69962

Looking at the quarterly chart for the RUT, it's banged it's head on the upper Quarterly BBs, and formed a black candle. Every other instance that this chart indicates shows it's a sign that it will retrace in a major way towards it's 20 Quarter MA (and often penetrate it further).. bigcharts.marketwatch.com I love all the other chart porn that gets posted on this thread.. But in this case, I think we need to look at the Quarterly Charts for a sign of direction. The RUT can go to 850 and STILL be in an uptrend. That's how over-extended these markets are.. But some more chart porn from Zerohedge shows the REAL reality. We're at the same PE level for the SPX that we were on Oct 9th, 2007. But I don't think any of us really believe that the economy is stronger now than it was at that time, right? Hawk

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