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Based on what please?
Claus Boberg
At 10:25 PM 6/28/2005, you wrote:
>The rally today happened on que fueled by the decline in the energy
>sector. I expect the rally to terminate on Friday or Monday with the DJIA
>around 10520 and the QQQ around 37.78.
>The next significant low would be expected around 10/13 to 10/15.
>Jim White
>----- Original Message -----
>From: <mailto:jwhite43@xxxxxxxxxxxx>Jim White
>To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
>Sent: Friday, June 24, 2005 7:19 PM
>Subject: [RT] More worries for the market
>
>Earlier in the week I posted models of the NYSE and NASDAQ showing a
>reversal confirmation based on market breadth.
>The attached charts show the daily and weekly S&P 500 index with paint bars
>representing sychronization of significant cycle lengths in the market.
>These colorbars are usually within three days of major market moves and the
>weekly can be used to establish preferred trading direction. As you can see,
>it looks bearish. Furthermore all major indexes show the same thing.There is
>no guarantee that we could not see higher highs and in fact I see the
>potential for a short term reversal on Tuesday of next week but generally I
>see little hope for an extended summer rally. I warned of this a week ago
>and this adds more confirmation.
>Next weeks upward reversal could be fueled by a significant decline in the
>energy sector but there are too many factors favoring the continued climb in
>crude oil prices so I see it as a temporary reaction.
>
>Regards,
>
>Jim White
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