5 replies to this topic

[hiker]

was the positive close you forecast in the early a.m. for today entirely driven off its course by news driven events in the bond mkt etc. or you have other thoughts now the day is over? just curious..always read your work.

[hiker]

a scan of 35 ETF's shows the close today and volume vs. avg. looks ugly for now...all red some times this reverses the next day. see volume today vs. avg for: XLU XLF XLB SPY DIA QQQQ IWM IWN EWZ etc

Edited by hiker, 12 June 2007 - 04:17 PM.

[eminimee]

Hey Hiker....I'm never of the opinion news changes the path but can expedite it or amplify it.....I was thinking b wave...and still am....just might be a little bigger than I originally anticipated. I'm still murky on the bigger count.

Double bottom possible unless we are in a three down.

http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=5&dy=8&i=p13035482981&a=93045759&r=6756.png

[hiker]

i understand. thanks for the explanation and updated chart. so, a test soon of 1460 area is not likely according to your FF it sounds like. you have one good crystal ball most of the time. appreciate all you do.

[eminimee]

and to add....if we break this tl...then I think we are in that 3 down.
http://stockcharts.com/c-sc/sc?s=$OEX...1891&r=7070

[Russ]

Here's the Dow chart with important support, if this goes things are going to get ugly.