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Well things are still looking good. The chart analysis that I sent the group
is still holding up well. Today was one of those-"well we had better keep the
dow up day or the public might worry" kind of a day. After spending most of the
day in deep territory. It rose very fast some where in the last 45 minutes.
UP/DOWN Volume ratio on the NYSE was still low. Was below 1 most of the day.
When I looked at the last correction in March - April. It lasted for about 5
weeks.
This one started on Aug 6th or 7th. So we are about in the 3rd week of the
correction.
I still see the dow moving down the middle of the channel.
I thought I would send a few more charts of the Dow during different time
periods. This way you can see that the patterns are consistent.
They will follow later. I am currently working on them.
Harley Meyer
meyer093@xxxxxxxxxx
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