Date: June 2014: 500hitting1929targetjune3.jpg (1576×730)

500hitting1929targetjune3.jpg (1576×730)

The Power of the Pattern shared on 11/25/13 that the S&P 500 didn't face stiff resistance until the 1,929 price level, highlighted in the chart above. (See post here) Why the 1,929 level? Two price points were meeting at this level, support dating back to the 1987 & 2003 lows and a Fibonacci extension level based upon the 1974 & 2003 lows.

500hitting1929targetjune3.jpg (1576×730)

Comments

RideTheCurveRideTheCurve
The sign could also read, "The END is VERY Near" 6/3/14
DinkDink
I love how people draw random lines on a chart, then price hits these random lines, and therefore the original random line drawer was correct in their analysis. Why does this person think they can draw that top trendline in that manner? If drawn like that, it is meaningless. Where does that fibonacci projection even end and why were those points chosen? Again, draw enough random lines on a chart, and you are very likely to see a pattern that only exists, because you drew enough random lines. 6/4/14
facesincabsfacesincabs
Chris Kimble draws and posts some well-thought out charts .. 6/4/14
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Tim Knight

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