Well, last week I said that I felt that this looked like the April 2001 rally, it turns out that the current VXN weekly chart structure is *very* similar.
stockcharts.com[r,a]whclynay[d20000801,20021101][pb50!b200!d20,2][iub14!la12,26,9!lk14!lp14,3,3!le12,26,9][J7937991,Y]&listNum=1
It implies that we do have a blow off top coming on the naz.
stockcharts.com[r,a]whclynay[d20000801,20021101][pb50!b200!d20,2][iub14!la12,26,9!lk14!lp14,3,3!le12,26,9][J7938420,Y]&listNum=1
On the April 2001 rally, it took 6 weeks to get to the point we are at now that took 4 weeks. Therefore I would expect next week to be it for the rally. |
