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> If I remember he predicted the S&P would go down Monday...
errrrrr.... not exactly. he predicted that IF it went down, a major top
was in place. the jury's still out on that one. but to give TD credit,
he at least made a call. time will tell if he's right.
hmmmm... i don't want to misrepresent anybody so here's exactly what he
said, with my comments....
> I believe the conclusion is correct—namely, if the S and P
> future fails to record a high above 1208.50
it didn't
> before it close less than
> the close 4 days earlier, it is likely that the market is at an
> important top. In other words, if Friday’s close is below last Friday’s
> close(1167.50)
it wasn't
> of next Monday’s close is below this past Monday’s
> close(1194.10),
it was
> an important top will have been completed PROVIDED that
> in the meantime the market has not traded above 1208.50.
it didn't
ok, monday closed lower and price never went above 1208.50 so this meets
the conditions for an "important top"
> There exists a
> stronger likelihood the decline will begin on Monday and this was
> mentioned in my comments yesterday.
can't comment as i didn't see "yesterday's" comments
> Furthermore is Monday’s high is
> above Friday’s high,
it wasn't
> then a sell signal will be given at last Monday’s
> closing price level(1194.10) if the market opens above that price level.
it didn't
monday's high was not above friday's high and monday didn't open above
1194.10 so the sell conditions were not met... no sell signal
--
Dennis
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