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Howdy Delta,
My stock market sentiment
indicator moved into the buy zone tonight, indicating the market should be at a
low within 1-2 days. There is one short term cycle activating
tomorrow which usually triggers a 1-2% correction over 1-2 days. My cycles
analysis indicated a flat and choppy week for this past week and up next week
leading to a May 17-18 peak. So, there should be a low by Monday's opening
and then perhaps about up about 5% into mid May. Watch also for a
possible peak in crude oil prices circa May 17.
Regards,
Norman
<BLOCKQUOTE dir=ltr
>
----- Original Message -----
<DIV
>From:
<A title=delta88343@xxxxxxx
href="">delta88343@xxxxxxx
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, May 06, 2004 9:09
PM
Subject: [RT] SP 5-6-04
As suspected, this move up was weak. This does not bode well for the
bulls. If we don't close above 1122 tomorrow or shortly thereafter, this
high would be 2 days early which is nothing too terrible, but due to the tough
time this market has had moving up this week is an indication of
weakness. Since the next low point is due in a week or so, and
considering the weakness we saw this week, we could have some real
problems here.
Could easily take out the lows of 3/24 I would think.
Is anyone seeing the same thing?
See attached chart if so inclined.
<IMG
src="">
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