ho ho ho's now on the mdd thread, the last time this thread was so quiet was in late december 1999.
nice article on price headley - even after the downdraft this week ursa is still just a smidgeon off 52 week lows, though the overall ratio has come down quite a bit from 9/1.
stockcharts.com[L,A]WACLYYMY[DF][PB50!B100!F][VC60][IUB14!LA12,26,9]
the ndx could be making a violent upangled h&S pattern with the left shoulder the april to sept 99 period, the head in march and now the right shoulder with a couple of failed breakouts on 7/17 and 9/1, a lot of the high flyers look like they are close to completing (or have) five waves up from the april low and their are a whole bundle that are forming rising wedgies.
Csco is sitting right on support of lower triangle trendline and ndx is at 3800 pivot point, i think monday should be important for short term direction.
everybody has been talking about the breadth, but using Dow Theory, while the nyse has broken out to new highs and many sectors rallied into mid august, since then it's been all banking, brokers, utilities and energy, and a few selected high cap techs.
people have compared this pattern in spx to the 1997 ascending triangle, but at that time we had a broad based breakout. In 1994 we did not have an inverted yield curve.
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