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Re: [RT] mkt outlook

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Earl, thank you for your cogent analysis.
 
Chas
----- Original Message -----
From: EAdamy
Sent: Tuesday, February 28, 2006 2:35 PM
Subject: Re: [RT] mkt outlook

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?

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