First, the turnips could be wrong, but right now, I have no indications they are, while I am actually, getting some turnips paling rapidly, indicating that we may turn earlier, the general "scene still has the three steps dance, today we had one step back in the morning and two forward in the afternoon, to use a metaphore. I do not think that we are going to get another 40 Naz points advance in the next few days . As for the actual top date, I still have Nov. 7th (remember, this is the center, it was "plus minus two days, so it could be as early as the fifth, but right now, more likely the 7th, or even th 8th), and we could simply meander here for the next few trading days. If we close above 1793, and the momentum is still there, and few other "ifs", the next target is 1940 in my chart. If that happens, I will have difficulties with a bottom in December, and more like a continuation of the bear from there till about February next year, with possibly lower bottom than this September. Too many things are uncertain right now, so, when we cross that boundary (naely a close above 1793), I'll look back at the turnips and decide what next. You guys want me to change my mind everytime we ave a small swirl out there in the market, we are really only 22 Naz points up from the high of Last Wednesday, why do you think that the next 20 points will take less than six trading days?
Zeev |
