| To: chartseer who wrote (8821) | 8/28/2012 3:07:38 PM | | From: Joseph Silent | | | | What was previously support for a while .................................................
is now providing some headwind to price.
There is no "our" in support and resistance. These are simply lines representing expected values
(in the sense of averages).
I don't know about bullish and bearish.
The market should be headed up if all goes according to plan. |
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| To: Joseph Silent who wrote (8823) | 8/28/2012 3:17:33 PM | | From: chartseer | | | | "You'll see that the dashed-white guiding line which was our support has now become our resistance."
You posted our support and our resistance in your direct quote posted above. I only took it from your posting. Sorry if your words bothered you. I do sincerely regret upsetting you. It will never happen again. |
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| To: Joseph Silent who wrote (8823) | 8/28/2012 3:18:02 PM | | From: chartseer | | | | "You'll see that the dashed-white guiding line which was our support has now become our resistance."
You posted our support and our resistance in your direct quote posted above. I only took it from your posting. Sorry if your words bothered you. I do sincerely regret upsetting you. It will never happen again. |
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| To: chartseer who wrote (8825) | 8/28/2012 3:24:54 PM | | From: Joseph Silent | | | | I don't quite understand. I did not interpret it as botheration.:)
What is stated is correct. What was once support often becomes resistance.
The opposite is also true. What is resistance can later become support.
If I am brief it is only because I got in from the airport at 5AM, after a long flight
.
Feel free to ask. If I know the answer I will always tell you. If I don't, I will tell you anyway. :)
[I said there is no "our" because you cannot use "our" unless the probability is 1 that we are on the same team. Such a probability is rarely 1.] |
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| To: zman69 who wrote (8822) | 8/28/2012 3:40:26 PM | | From: Joseph Silent | | | | If I had to guess I'd say that we are due for a big surprise candle
in the next day or two, because the distance between chart lines is zeroing out.
Time will tell. Perhaps it's just hope. :) |
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| To: zman69 who wrote (8820) | 8/28/2012 5:41:21 PM | | From: llap | | | | The pessimism bubble is blowing up more and more: nber.org, amazon.com
There seems to be a growing consensus among economists that growth is done for good (at least for decades to come). Once this has become THE consensus, we will enter another period of strong growth for a whole generation. While I believe the worst is over with the Great Recession passed, I do not think we are there yet. We will be there once the incomes across the whole income spectrum start to grow again, not only for the top 5% as currently. It may take a few more years for this to happen. |
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