The current market condition is "Fractal" of "Jun-Jul 2006" bottom while "March 2007" bottom is a fractal of Jun-Jul 2006 bottom. And now, as of Friday closing, the formation is fractal of Mar 2007 as Fib pointed out.
The major Aug 2007 Fractal formation to that of Jun-Jul 2006 bottom characteristics of fearful market sentiment, extreme market breadth, climactic volumes, and breakout VIX level is signaling a major cyclical market turn. It is like having a major bull/bear war which will be a significant pivot. I commented on technical readings on my previous posts.
Based on sensing major market turns in the past such as Aug 2004 bottom, it is apparent that markets are at critical juncture and, I would conclude that markets are pointing up to continue the current bull market 8 year cycle after the 4yr cycle bottom in Jun-Jul 2006, not LT bear market top.
The high insider buying activity is a very good information which is adding credience to market bottom conditions which commented above "August 2007 fractal of Jun-Jul 2006 bottom".
http://www.sentiment...SIDER_SCORE.htm
Edited by Trend-Signals, 11 August 2007 - 10:04 AM.