WELCOME

Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Beach

Beach

Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
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*** Click here for link to Economic Calendars for all upcoming events

IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains
with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance

Thursday, October 06, 2011

Perspective...

A nice feature of Prophet charts is the ability to turn my charts "upside down." It can help me to see potential targets more clearly.

Below is a 60 min chart of the Russell 2000. Price stopped today at an important down trendline resistance level of 673.00.


If I turn this chart "upside down" as shown below, it appears as though if price can break through this trendline and hold, it has a good chance of making it back to the next level of 695.00 or even 720.00 again...otherwise, it may re-test the 650.00 level before making its next move, or make a lower low (higher high on this chart) and continue in its bearish downtrend.


Perspective...it's all in how you see it...