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Have a lot of analysis to do this weekend, however we should be at or close
to a temporary bottom in bonds which should provide some temporary relief to
equities. I have a strong trendline at 6.1 on my long term historical work
and a moving range of targets on the daily and weekly, virtually all of
which have been satisfied, however we could go as low as 109. Given a
pretty clear wave structure in the bonds, it looks like we are due for a
wave 4 rally followed by a wave 5 decline.
When you consider that bonds have risen from 4.7 to 6.1 percent and equities
have held their own, I think it makes a strong case that the bull is not yet
dead. If bonds hold here and start a rally, I would expect another rally in
equities. From there on things are likely to get dicey in the face of higher
rates and commodity prices.
Asia, especially Japan, is still looking great. We'll probably get the first
serious correction to the rally from last fall's lows later this summer.
Earl
----- Original Message -----
From: <MRLYNNG@xxxxxxx>
To: <realtraders@xxxxxxxxxxxx>
Sent: Friday, June 11, 1999 5:06 PM
Subject: Re: GEN: RealTraders is alive.
> I have really missed RT but I have survived by being on other lists. Of
> course, I have not missed 50-100 emails a day to wade thru. Are we near a
> low in the stock market or just starting the down move? Any seasonals or
> cycles to help guide us?
> Lynn
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