|
Because this market has been toping since
August 2004 when a terminal rising wedge started on the weekly charts. Because
there have been more terminal daily and hourly rising wedges than I can count
and each one has broken south only to recover to the highs, then stagger
back. This market has been topping for so long that the bears have given up. The
bulls have been in control of price forever but the bears took control of time
many months ago. It has required patience and a quick covering finger to be a
bear in this market the handwriting is on the wall.
Maybe they can rally it again, maybe not
but time says this turkey is ready for dinner. See attached monthly SPX ... the
first warning was when price broke right from the right hand cyan
line which is the complement to the one on the left.
Then recall the 3 day inside day
pattern which broke to the upside, then collapsed today into what may turn
into an outside weekly reversal ... depends upon the
close.
See also attached breadth models showing
clear divergences in issues and volume.
Earl
----- Original Message -----
Sent: Tuesday, February 28, 2006 1:18
PM
Subject: Re: [RT] mkt outlook
Because Ben's 'proprietary' volume studies did not make new high compared
to the price of the S&P?
SPONSORED LINKS
YAHOO! GROUPS LINKS
| 
