Charts/Technical Analysis ~ market folly

Friday, October 10, 2008

Charts/Technical Analysis

Here's a few relevant charts to gaze deeply into instead of watching the sea of red that is known as the market.

Firstly, compliments of Sovereign Society, we get a nice line in the sand on the Swiss Franc (FXF) if you want to trade it. They argue that "with the Eurozone breaking down in a big way... it seems as though it (Swiss Franc) might garner some money flow from the (Euro)zone and Central Europe."

(click to enlarge)

Secondly, Kevin points out that markets often test significant areas of support and resistance over time. Therefore, it doesn't look good for the market in the near-term.

(click to enlarge)

Thirdly, Goldman Sachs (courtesy of Clusterstock) is showing us that history often repeats itself and we could be seeing great opportunity for long-term investors. I definitely do not disagree with that, although I'm not sure this is the *exact* bottom or anything.

(click to enlarge)

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