25 October 2012

S&P500 : Storm Warning

  • Weekly : Back below 1420 (a significant previous top) is not a good sign. Bulls would have expected a more powerful move after finally taking out the old high. 
  • Nearby we have another very significant chart-point at 1375 (previous top on monthly + weekly uptrend line support).
  • Daily : This looks very much like Copper in the middle of its recent sharp decline.

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