John, been checking the charts, while munching on the juiceman's quackeybits. I hate to eat my quackeybits before their hatched, but i believe enough technical damage has been to nutz, that the juiceman will never get back into quackey area by 6/23, which is quackey triple witch -g-
After looking at the morgan stanley cyclicals, the XOI, the OSX and the DOW, I believe that we are wave 4 from last falls bottom and that the cyclicals may drive the Dow to one more new high and make that 11,400 something target the inverted h&s pattern targets.
this would also coincide with my right shoulder thesis on the GIN.
The spx, may meander sideways, i think the big cap tech stocks will just tread water as they have been for a while and you will see msft continue in it's narrow trading range.
an interesting chart analogy is what looked like a rising bearish wedge on the Dow going into March and topping out at 10,000 broke to the upside and we are now retesting the uppertrendline of the wedge.
I had the same wedge call on Schwab at that time, but schwab broke out of that wedge to the upside, then retested it and went on to make a parabolic spike up to mid april off that retest.
Re-run?
thats my guess.
bwdik, |
