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Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.

Friday, September 24, 2010

upside price targets

all these indexes' price targets were set on Aug 26 while spx was at 1040.
now majority of them are right near the nose of my target. not single one, majority of them!
i am showing this to demostrate there is a biggest barrier will not be passed for the entire market, all indexes. i knew this upside test and its geometry structure for all indexes, and came up with specific target prices while most people were bearish at spx 1040. now one month later, this same geometry structure still governing the entire market, i do not see any reason it would be violated.

this geometry barrier is at the same level of importance as T2 top, which i showed you the very LT structure of the barriers there for all major indexes, and at there must take down spx 1220, dji, nasdaq...

now, while lots bears are sad. i am confident it will be fine. i also know the grand crash pattern(never published) can not be averted because it takes so long to set it up, not an action like this can change it.

PS 1). for confidence,
i was not afraid to buy both hands long at 1040+- bottom cause it was bottoming process.
now i am not afraid to sell 1150+- cause it's topping process.
i would say strong sell here around 1150+-.
i didn't miss both the low 1040 and high 1150 projection.

2). a new crash window could have been created. to be reviewed weekend, confirm on next Monday.