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#1 emdee

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Posted 27 August 2007 - 07:01 PM

Three legs down does make alot of sense in a "corrective" manner. A similar outcome would suggest a low in early October.

http://stockcharts.com/c-sc/sc?s=$COMPQ&p=D&yr=0&mn=6&dy=0&i=t98222579063&r=9174.png

http://stockcharts.com/c-sc/sc?s=$COMPQ&p=D&st=2006-03-01&en=2006-09-30&i=t42030264085&r=9385.png

http://stockcharts.com/c-sc/sc?s=$COMPQ&p=D&st=1998-06-01&en=1998-11-30&i=t00338479764&r=3526.png

Edited by Brickie86, 27 August 2007 - 07:07 PM.


#2 emdee

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Posted 27 August 2007 - 07:20 PM

What I notice about the tops and bottoms in 2006 and 1998 is that the tops were generally spaced about a month apart as were the bottoms. The action since mid July is much more compressed in terms of action versus time so maybe a bottom would be reached sooner than projected in my previous post. M

Edited by Brickie86, 27 August 2007 - 07:23 PM.


#3 Iblayz

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Posted 27 August 2007 - 09:10 PM

The residents of Gappaville need to get up very early in the morning and do their native dance. I have no sell signals on a major index.....NDX, NAZ, SPX, OEX, DOW or NYA. Signal line has crossed down on the SOX, SMH, RUT and BKX. The SOX, SMH and BKX did not go high enough indicator-wise to generate an outright sell. The RUT, quite frankly, was borderline. Under my original rules, which became too subjective for my taste (that's why I built the blended indicator...so my bias could be eliminated), one indicator did not go high enough to generate a sell....but only by a hair. But nevertheless, the signal line has crossed down from a fairly high level. I'm aware that there are still crash calls all over the place. My work says upside is still very possible. Nothing, however, is EVER guaranteed based on my work or anybody else's.http://www.marketswi...read.php?t=6457

#4 emdee

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Posted 27 August 2007 - 09:37 PM

Hey Ib, I have read your postings on Marketswing...good to see you posting here. I agree that continued upside is very plausible here and that a third leg down may never arrive. I try to stay open minded and position myself so that I can take advantage of whatever the market offers. Good trading...Mike