It's not in the way you say you care
--Toto
It has been said that it's better to draw trend lines with a dull crayon rather than with a sharp pencil, lest one is prone to jump to conclusions about pattern changes.
Such is the current technical state of the S&P 500 (SPX). The uptrend since last March is being challenged. Not decisive enough to confidently conclude that the trend is broken.
But certainly close enough for bulls to be looking over their shoulders.
position in SPX
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
1 comment:
If people assert that "we" have progressed beyond the conditions of earlier ages, their judgment of value agrees with that of the majority. But if they assume that what they call progress is a necessary phenomenon and that there prevails in the course of events a law that makes progress in this sense go on forever, they are badly mistaken.
~Ludwig Von Mises
Post a Comment