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Based on my cycle analysis, I posted here a few days ago, and a bit longer
than that as well, that this last week was to drop in prices for SnP.
Note though that this was to make the weekly pivot bottom as it did. To stay
as the weekly pivot bottom requires that the following week at least have
higher prices.
Therefore, it is my opinion that SnP prices should now start to rise.
Also, if the cycle holds true to form, we should not expect a cycle top
until November.
I've not detected any other cycle tops previous to November that could make
it possible for Novembers top to actually be lower in price than Octobers
low.
With this in mind, keep this weeks low price as a safety net in looking on
the long side. As long as it holds, everything is as planned.
cheers!
:)
rick
-----Original Message-----
From: John Dundee <jdundee@xxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Saturday, October 18, 1997 4:05 AM
Subject: Re: Market Direction
>Seems that all the mechanical systems are all calling for going long.
>This is a little scary and couls be a potential set up. Aside fron the
>normal interest rate influence there are two fundamentals not being
>brought up lately that occur this year that maybe behind the sell the
>news attitude of the last few days. One was the capital gains change,
>the other is that for most mutual funds October 31, is their tax year
>end. These two factors might be behind the selling pressure of October.
>The last two years in a row you could have bought November 1 and made a
>ton in that month, sold the first week of December, bought the last week
>of December and sell by the end of January for another ton.
>
>DaNASDAQ@xxxxxxx wrote:
>>
>> 1. CNBC is reminding people of the aniversary of the Black Monday. Oct is
>> historically notoriousiously known for crashes. Major sell offs are
>> occuring Inflation is emminent. just wait this month,, and next.
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