Jan

27

Chutes, from Jim Sogi

January 27, 2009 |

 Recent day market charts are forming a tectonic pattern seen in mountain formations created by the tectonic forces pushing up plates creating chutes down which skiers ski in Alaska. There are tectonic forces at work in the market and there are plates of players getting squeezed around creating these patterns. As in the mountains, the chutes are steep, vertical, cover large vertical footage, are very dangerous. There are rocks on either side and avalanches make negotiating them quite dangerous. All like current markets despite the curious fact the but for the movements, we are close to unchanged for two weeks. Kind of like heli skiing in some ways, straight up and down. The Japanese candlestick guys have a name for something like this, called mountain tops, or river bottoms. The distinctive feature of the chutes is the chutes. Appropriate since in Alaska the mountains drop straight into rivers.

(I skied down some of the chutes pictured )

Valdez, AK

Oz

Sphynx


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