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Dorothy, I posted the INDU message yesterday and had to run. However, I'm
back and after some thought, I have to refute what you've said. First,
you talk about symmetry in the markets. Where? Look at any chart, I never
see symmetry. For example, look at the move from 1995 to 2000, where was
the symmetry for that? How can symmetry have alerted you to that move.
That was strictly fundamentals, fundamentals, and fundamentals. Look at
any chart and I can show you more violations of symmetry than you can show
me examples of it. You also mention that large volume needs to define a
turning point. That isn't always true. The common turning point develops
when Bear thrusts lower are weakening and Bull thrusts higher are just
beginning. The full thrust of the Bulls usually occurs somewhere near 75%
of the top, or near the end point of the Elliot 3rd wave. That's when there's
maximum unison and energy to run it higher. At this point, however, I think
the balance has just tipped in favor of the Bulls and I think you'll be
seening more evidence of that as the days unfold. Now that I've made my
case for the Bull clear, they'll be a 1,000 point drop on Monday. If you
also read back on this note, you see that I've used the term Bear once
and Bull four times. See, the Bulls are winning already!
Ralph
"Dorothy K. Carter" wrote:
If
you are right short term that it can extend the move into next week...
Looking at symmetry it would appear that the upside would be limited and
that what ever high level chop we may mark out would possibly be making
a right shoulder for an eventual down...... Personally, If we continue
to rally on lite volume I can't get excited for the bullish case....
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