Thursday, June 6, 2013

Power Of Charts

If you have not spent enough time studying charts, I seriously suggest you start paying close attention. Today was a textbook kind of day. SPX futures slammed into a support zone and bounced 28 points straight up, all the way into resistance zone, in just four hours.
For those who think that technical analysis is nothing but voodoo, look at my chart below and my post from last night, in which I outlined what would likely happen. Maybe all of this is just luck? :)

click on chart to enlarge

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