January 29, 2013

 
  • SPX 30 Minutes and One hour charts shows the trending moves in short term charts.
  • Last one is the weekly time frame which shows price moving towards the upper resistance line. Price and RSI both has more room to move up before they hit the resistance line. Expecting a bigger correction from this resistance line.

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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore