All these news within two months and it looks like the world finance system is beyond hope. So what do the charts tell us?
The charts below are weekly charts so within the last 2 months there is about 9 new points on the graph. Both the All Ords and Dow Jones show a similar characteristic. Both when sharply up and then both went sharply down. Both have not even reach the resistance level talked about in the previous blog post.
The summary is that, sure the trend is sharply down. But it has broken no major Gann resistance angles yet and have a slight way to go. So although the news sound hopelessly indicating a financial meltdown, the charts say Not Yet.
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