Visual trading plan using the SP 500 index weekly chart ;1) Focus on the "key price channels"
2) "Pink arrow" is what I consider a low probability ; current events do not favor this scenario.
3) "Yellow arrow" is probably what we are all expecting ; testing 950 and bouncing up to reach new highs ....
4) "Green arrow" ; huge "W" shape, fear will be so high that we will all pray that China saves us ; or at least save themselves since they could face more problems than us if their factories go bankrupt. Imagine all the millions of workers stuck in big cities without a job ....
Gut feeling ? I call this my "big picture" with one clear message ; China will one way or the other bail us out of this mess ...... if they don't, they sink as well ....
2 comments:
So all in all, Mosie, your projection regardless of the yellow or the green pattern, are both looking at bottom out in 6-9 months time frame.
Question: Would the re-adjustment of Chines Yuan influnce much; and would the further deteriation of Euro economy be expected?
Good question ; but I doubt that China will move on the Yuan since the $USD Dollar has been rising
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