I was uninvolved in the market this week as I had planned, I could see what the boyz had in mind on and they performed as expected, whipsawing bulls and bears alike on light volume... As you can see from the chart, there was NO VOLUME all week this week and the dreaded JAWS pattern has emerged on the Nasdaq volume/price comparison. Next week volume will return and we're going down town SMARTLY IMO ... whether or not Tuesday is up... This does not take a PhD to understand... effecitively all credit is now being sucked into debt service... you can forget all fantasies of growth in the economy. No... J6P does not feel it yet... but at the end of the quarter in 30 days when a few banks close for at least a few days (which means the credit cards at the other end of those banks seize up) he'll start freaking out. I expect the real crash to start then, around the first 2 weeks of October... I have already issued my target 1889. You may think I'm nuts, but I call them the way I see them.. As you can easily see from here the dissonence between volume and price opens into an alligator size set of jaws... those baby's are about to snap shut... I expect it to be VIOLENT !!
And as far as anyone who has any additional fantasies about this low of 8/16 standing... all you need to kow is that the 2/26 volume low was tested on almost 10% MORE Volume.... those get tested.. END OF STORY...
Edited by SemiBizz, 01 September 2007 - 12:30 PM.