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The Path of Least Resistance
September 29th, 2008 at 1:27pm · 1 Comment
Stocks have had as much bad news as can be imagined. The bailout (which I don’t think would work anyways) failed to pass. On my charts, the eMini penetrated the lower channnel on every time frame; 60, 135, daily and weekly. The contrarian move is to think that the path of least resistance may be up now. That Spiral Calendar turning point discussed this morning is much more important now that the September 18 low has been taken out in both the Dow and S&P 500. Who’s left to sell that hasn’t already?
Tags: S&P 500
1 response so far ↓
1 gogmagog // Sep 29, 2008 at 4:18 pm
Is this October “friendly”, or “unfriendly”.?
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