The recent pull backs were sharp signaling potential break below the noted lower TL supports. Market intradays are now oversold near at the initial targets, i.e. the TL supports; however, with the recent momentum, we could see a break which will further induce selling.
We are going into OE week which could be volatile week.
SPY is forming LT symmetrical formation heading to 130 +/- S
A break below the support confirms bearish corrective wave formations which noted since oil price spike.
~~ Targets ~~ Markets are trading near to targeted area with SPX 1310 +/- key supports with LT symmetrical triangle formation. Breaking the support SPX 1300, the recent selling confirms the momentum of strong corrective wave C.
Date: Tuesday, June 03, 2008 6:27:35 PM ~ targets Qs 46.50, SPX 1330, DOW 12000 +/-. Markets are in sym triangle formations.
~~ W.W.W. OE day ~~ the market performances since the last OE Friday confirm OE trading strategy. Markets traded below the OE pivots. The charts signaled that market will likely trade lower as noted a couple of weeks ago.
USD vs Oil price
http://www.treas.gov/offices/international-affairs/esf/history/
It is evident that Bush and Paulson are promoting NWO as we can see on the conspiracy theory tapes on youtube. We see it through Bush speeches. Paulson's recent comments on Oil price is suggesting that he has the same belief as Bush.
USD and Oil prices recently have shown close correlations; therefore, the recent Paulson's comment on oil price is contrary to his strong USD policy. http://one-nwo.blogspot.com/
What is not clear is whether the Fed is also with the Oil/USD conspiracy, i.e. NWO. The conspiracy theory of NWO could have misinterpreted the original meaning of design of the seal which is the origin of NWO. If the Fed is also with Bush and the power, then the entire middle East wars are rich power manipulation. As noted before, it looks to be Sadam was not doing what he was ordered and Bush invading Iraq was doing a big favor for Iran. Bush is a professed Christian, at least, he is known as such. Therefore, the entire scheme is nothing but driven by power and greed for money.
China SSEC recently pulled back 50% of March 2007 and topped on 10/16/2007 which I also noted the top at 6124.04 meeting the target of 6000 +/-.
The recent US market price actions and other international market analysis, the China SSEC is showing a fractal formation of 1998-2000 Nasdaq price action which was followed by 50% correction in a few month, Mar-May 2000 50% correction of the 1998 breakout. The China SSEC corrected in similar fashion and it is trading at 3000 LT support which tested in April 20008.
As noted, I think that it is better to see a significant correction as we are facing global hyper-inflation.
Greenspan made huge two decade old bubbles after 1987 crash which I think that it is just a quick correction of 200% rally prior to the 1987 correction. We now have significant financial contraction in US; so, international market corrections are better than making bigger bubbles.
Breaking the China SSEC 3000 pivot support will be another confirmation for a significant correction targeting 2300 +/-.
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