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Hi Jim,
With the termination of this last rally that you
see coming (around DJIA 10520), are you saying that we
will decline into the 10/13 to 10/15 low? If so, do
you have a low target?
Thanks,
Betty
--- Jim White <jwhite43@xxxxxxxxxxxx> 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: Jim White
> To: 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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