Here is a simplified analysis of the rally from the October low. I break the chart down very simply, but I think very usefully to show that the market has two "time clocks". One clock counts the time at the last most-frequent consolidation and the other counts time from the low to the end of the last consolidation. You can see that we run out of "time" on the faster method and it has failed to reach it's projected price at 146. This is a very simple analysis, but it is the basis for how to analyze trends, trend-time and trend-strength. I hope if there are any questions that I can address them in a timely basis. Cheers. Technical Tim, Tuesday, March 20, 2012 3:58PM EST
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I also wonder how this will play out. We are approaching the end of Q1, and based on your chart ,the SPY is up 28.9% , and the VIX is at levels that recommend a market corrections . Will traders finally take some profits ?? Is Europe still a major factor for North Americans markets ??