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Quick Chart

Quick Chart

Quick Chart

by The MoleJuly 1, 2009

11:19am EDT: Quick chart as we reached an important inflection point:

Inverse Head & Shoulder pattern confirmation – probabilities and details here.

Assuming the H&S resolves I see two likely scenarios:

Orange: We are in Minor 2 of {3} – or – Minor B of (X) of {2}. Reversal should be around 950 mark (A/C equality). The 956 high should not be breached.

Blue: We are in {iii} of A of (Z) of {2}. The 888 low should not be breached.

Probabilities between those two would be 50% Blue – 30% Orange – 20% something completely different playing out I don’t see yet.

12:33pm EDT: I thought this was important to share as well:

Unless we close the VIX above 26.35 today the equities sell signal has failed.

2:30pm EDT: It’s starting to look worrysome for the ole’ buck:

A breach of 79.37 would mean further downside ahead. Somewhere in the murky depths of the Federal Reserve you can hear the echo of Curly’s evil laughter.

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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