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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (141606)1/4/2002 8:41:58 AM
From: yard_man  Read Replies (1) of 436258
 
contrary indicators aside I think he is wrong about this:

>>i think there has been a large consensus of market watchers that this consolidation in the averages was a topping pattern,
<<

I saw a lot of commentators who thought it was a classic indecision pattern and were waiting to find out. Also saw a number who were convinced we had already started a new bull.

I believe it is next to impossible that we have a pullback for a few weeks that starts a new launch, but I've been wrong plenty of times ... one more manic spike is surely possible lasting more than a couple of days. I'm convinced of that possibility by looking at history of SOXX launches and what the other indices do afterwards. Hasn't always turned into a launch in the other indices following, but sometimes there has been pretty good follow-through ...
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