Will see whether market wants to squeeze out SPX 1550 with sickly breadth.
Good trades ALL
~~~
Major and meaningful breakout is SPX 1550 LT resistance. I commented on round number breakouts back in Sept 2006, 1000k advancement for DOW.
3mo consolidation into Sept/Oct to reset negative breadth which I commented during the last several days is reasonable instead of squeezing the major SPX breakout. That will set up for nice buying opportunities instead of setting up for "Doomed house" formation melt down scenario.
The current pushing up is setting up for "Doomed House" melt down formation scenario advancement.
My outlook is based on 4yr cycle low in Jun-Jul 2006 into 8yr up cycle scenario which is healthier scenario than Doomed house melt down scenario.
Sept/Oct 2007 low will set up for 9mo cycle low after Mar 07 9mo cycle low. Mar 07 9mo cycle low came late; therefore, Sept/Oct 2007 9mo low is reasonable.
http://investorshub....age_id=21333606
Edited by Trend-Signals, 18 July 2007 - 08:15 AM.