Downtrend lines broken…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p18894193176&a=214966864 Although it appears that nothing happened last week except kabuki shows in Washington something did happen.  Of course the market showed its anxiety by popping up and down according…

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alphabetagammazeta…….

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p55455624798&a=266398464 Of musical interest, Brazilian artist Carlinhos Brown's album, Alphabetagammizado is one of the great classics of drumming and  infectious rhythms.  Stocks have rhythms too, and here, lethargic with turkey…

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Mood change.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p18894193176&a=214966864 The market has been clearly oversold lately, so contrarians, short sellers and mischief makers, each trying desperately to get a seat before the music ended, drove the market up…

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Correcting the analysis…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p18894193176&a=214966864 Now, this is what happens when you rely on your memory in making an analysis.  You make mistakes.  We made mistakes in the application of the rule of seven…

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First rule of seven target hit.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p18894193176&a=214966864 We remarked, when the new high stop was tripped, some days ago, that scaling in to a hedge was not a bad idea.  That was a good idea.  The…

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