in my opinion it was in a corrective mode and it would have reversed up once it had got to 9250-9300
here is the chart I drew (I never posted it here but I have it on my desktop among many others) :
http://jan.imghost.us/4xa5.png
well, definitely it behaved exactly like projected
http://jan.imghost.us/4xgy.png
How can this chart be of help in determening what the spx is going to do ? Well, it projects the top for the ibex, whatever sort of top it may be, for late january early february and it projects 11000 as turning point. The ftsemib is in similar condition, target 20500 by the same time window. I bet all the other piigs project the same behaviour. They are shouting loud when they are going to turn. Will the spx, the leader, go on getting higher while the troup retreat ? What I think is that all these indexes are cohordinated together and the piigs have still some room because they know the spx is still in a uptrend till late january and they also know that starting from then it will turn down.
Besides........most of the charts I have on my desktop show well defined channels starting from april-may.........just to remind they are following the same orchestrated route
Edited by andr99, 19 January 2014 - 02:20 PM.
