Thursday, August 15, 2013

Charts 08-15: No top yet

We have yet to touch the top trendline of the big enchilada 2009 rally channel.

CSCO and WMT have the market pulling back, OK.  Time to revert to a previous idea, that we will top with a final ending-diagonal triangle at SPX 1768, touching the top of the rally channel, into 9/20 and the German election.

Perhaps the wags at ZeroHedge are right after all.

Will look for a BTFD opportunity on Tuesday -- SPX 1650?

SPX 08-15 and an ending-diagonal into the German election

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