mss
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Registered: 06/04/05
Posts: 292
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| | 12/20/08 at 06:23 PM | Reply with quote | #1 |
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Quote: [quote name='mss' date='Dec 13 2008, 03:41 PM' post='421212'] There are signs that a "base" of some sort is forming. The question at the present is it a "running top" base or a "running bottom" base. Only time will tell for sure, but IMO it is looking more like a bottom build for a IT run up. It will have wild swings, "dead cat bounces" but I think the bias will be upward. You might get your 1000PT on the DOW. I'm thinking we get to 1005, test back 920-930 breakout, then we might get "T's" 1050ish. Then the 695 lower leg. mss Below are 4 updated charts as of 12/19/08 SPX, NYA, VLE & my B/S chart on the SPX. Draw your own conclusions as the market looks ready to run, the nagging question is it still up. IMO, yes but only time will tell. Attached Images:
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bobalou
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Registered: 07/17/05
Posts: 978
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| | 12/21/08 at 07:42 AM | Reply with quote | #2 |
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were is the that rat chart, I like.. happy Holidays..to all.
any way,,the chart is a mess,sorry I put some time in this chart,,but ,,look at the cycles,,if I'm right,,in pink..that could let the spx run in the black channel,to 1000 ?,,,mss,,note,the,11 spaces,,w/ an up date later,, if you could,, over bought ? O K,,but tops roll over,,and tax loss selling could come to an end..were are the cycle guys ? does this work,,w/ your work ?
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mss
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Registered: 06/04/05
Posts: 292
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| | 12/21/08 at 05:04 PM | Reply with quote | #3 |
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Nice work bobalou, i will update after the first of the year.
I no longer do the "rat" chart as it was not too effective in a true bear market like we were having with the VOX roaring up and down. Found a better deal and you just marked all over it. Will see you next year and a Merry Christmas and Happy Holidays to you and yours.
mss
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bobalou
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Registered: 07/17/05
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