Terry's T Theory Update

T Theory Observations for November 2008
Update for November 3 2008

Download the current PDF file for the updated daily chart.
Download SRT081031pdf.pdf

As noted in this week's chart there is the unusual pattern of flattened volume oscillator peaks that can not form a cash build up phase, that is there is no declining tops in the oscillator, to act as the left side of a new T as I had sketched in last week's projection. In the past this has been a long term negative although the strength to get the oscillator up so high was probably welcomed by investors near term.

Now that the oscillator has reached an overbought level the S&P should begin topping then turn down to the major 23 week cycle low noted by the black arrows. There is some uncertainty in this low date but we can deal with that later.

Edited by Rogerdodger, 03 November 2008 - 08:53 PM.

Thanks Roger...does the black arrow indicate where it should bottom, or just the time part of it?

I wondered the same.

"S&P should begin topping then turn down to the major 23 week cycle low noted by the black arrows. There is some uncertainty in this low date but we can deal with that later."

That makes it sound like he's referring to time and not price level.
In earlier post he was looking to November and maybe December for a good I/T low.

Edited by Rogerdodger, 03 November 2008 - 09:45 PM.

I believe that Terry uses this for tops and bottoms: LINK

MCLLELLAN oscilator allways looks like that when the summation index is just starting up out of a deep hole..........clx students are very excited about what they see coming.....