Phil put a post up yesterday that captures the genius of the social charting on Chartly. I’ve reposted it below.
Chartly Review: Resolution Approaches and the Fib Pwns
Friday marked an end of week and quarter and the action was very negative.
Below are a few key charts I plucked from the Chartly stream for your insight and pleasure.
@hertcapital snapped this shot of China 5yr CDS chart which prices insurance of defaulting credit. Anyone who recalls the US credit crisis of 2008 is shuttering a bit looking at this one:
@Xiphos_Trading posted what I think is the key chart of the week here of the $DJIA ($DIA). Click through, expand it and take a close look at his notes. When an index is consolidating a most important question becomes one of timing. The implication of this diamond pattern chalk up is that resolution is getting near.
Finally, I must point to the work that @Fibline did yesterday on his Chartly stream. It was a work of art. He posted 10 charts of the $IWM starting before noon, chronicling his bearish view and the melt down BEFORE it happened.
Here’s one entitled simply “I smell Napalm here.”
Standing ovation bro!
Check out Fib’s full Chartly stream here.