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Charts courtesy of stockcharts.com

Monday, June 24, 2013

Abbreviated Monday





Well, just so today isn't a total loss, I decided to put up at least one chart today, not that much changed since Friday. We are still flirting with the S1 pivot point, although we closed below it, the tail on the candle indicates we have some support here. We are due for a bounce, which will likely come tomorrow, but we are also getting to the point where we are in danger of a pretty nasty collapse. As the market becomes oversold (which it really isn't yet), the danger of a major drop increases, mainly die to heavily leveraged players taking losses and panic selling. However, that, as of now, is a fairly remote possibility.

Today got pretty frustrating, mostly due to my own errors rather than computer problems, I have a live distribution of Linux called Knoppix, which runs directly from a DVD and never accesses the hard drive, and it literally can do everything I need it to do, except for one thing: I can't access the internet with it. he Ubuntu distribution I have has no problem with the internet, but doesn't have half the programs I need, so I have been going back and forth between the two. I am going to have to get this resolved soon, just for my own sanity.

I will have the new highs update shortly.

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