its a complicated topping process. I have yet to see any of the GREAT ONES identify the S&P/NYSE as being in a large ending diagonal, that has been my contention for over a year...and that is MY opinion, whether it stinks(as I do) or not. Furthermore I don't believe that it is THE ending diagonal, rather I believe it is a 5th wave ending diagonal of a GREAT bullish 3rd wave that began years ago. And I believe that this ending diagonal has one more move up that will take the S&P to 1600+...at which time a massive 4th wave will begin that will result in a prolonged huge trading range (like 3000+ points on the DOW). This trading range will be a reflection of the deteriorating fundamentals of which you speak.....but everywhere I look I see lots of high paid people pumping money into the market via IRA, 401 etc. etc, currently this $$$ is parked, when it becomes 'unparked' the rally to 1600 will happen.
If, and when, these people start to lose their jobs....LOOK OUT, they are all overextended with their 2 SUVs and $400,000 mortgages and spend-at-will life styles, they will stop contributing and start to cash out........then,after 400 crash calls, the Prechters of the world will say SEE,I TOLD YOU SO!
Stinking Like A locker Room,
Stains |
