Market Crash or Healthy (Overdue) Correction?Submitted by barracuda_trader on Sat, 01/25/2014 - 06:00
Ok. So we've experienced a ridiculous rally since March 9, 2009 from '666' in the S&P. And now we're at the all time high territory near 1800.
Now we are about to deal with a series of pullbacks, I believe. I'm looking for the ultimate pullback to 1540-1560 which was the thirteen year resistance level - broken for the first time ever back in May 2013.
Once we go down and confirm that new level of support I think we'll see a very long term bull market lasting 5 to 10 years.
CHART KEY: The above charts are all the S&P mini 500. Each giving a different perspective of market price history.
Each candle represents;
Daily chart = One day
Weekly chart = One week
Monthly chart = One month
Quarterly chart = One quarter
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