Posted 15 November 2005 - 08:04 AM
I was looking at the weekly indicators to see if they are confirming the recent 3 week rise. IMO, they are not. And in the last 2 years, the weekly MACD portends eventual weakness unless the indexes can breakout in a very bullish manner.
I try to match this up with other TA, and specifically market cycle work that I follow by airedale. All I can gather from this is that upside targets are limited by the current grinding trend until we have a siesmic shift in the markets.
If I had to guess what that was, I'd venture to say an end to the FED rate hike cycle.
cheers,
john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
