Monday 11 January 2010

S&P 500 Update III

We were stopped out at 1120.5 on 22nd December. We theorized that the flattop would not break pre-2010, as traders wound down their positions and indicators continued to look bearish. In retrospect, we might've been better positioned had we paid attention to the ascending triangle formed on the d1, from November onwards:



We saw a similar continuation pattern on d1 Gold over a similar time period:



An oversight on our part; a small setback that we will take in our stride an learn from going forward.

"...there are no mistakes, only lessons." Cherie Carter-Scott

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