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It was not long ago some one referred a trendline as a “stupid line”. This is poetic tragedy, what we don’t understand, we call “stupid”. I think we technicians are the bravest souls around sticking to it despite all odds.

Here’s another bunch of “Stupid Lines” I have sketched for you and I think they are saying something. They are saying that only 33% of the market is going up, the rest has already turned down from where we spotted them on 9 Nov in TST. They are also saying we can not move against gravity, as steeper the rise more unsustainable it is.

Markets can go up against gravity only with two things, one is rocket fuel in terms of volume and second is when there are very few fools left without stocks and the smart generation is already invested. Bharti, the newcomer we studied last time breached our targeted levels of 580, to poke up at psychological 600 in the last 30 mins. This is the rocket we watch keenly.

Log channels of 6 years and normal scales of multi year stand broken. A majority of Indices turned down from our anticipated levels. Here’s for you the lines we love, all marked with preferred and alternate counts, a beautiful fractal in the end and one of our classic not so old published column.