For me the real question is gold. A lot of people say it won't go higher, that kills me. Someone showed me a long term chart that has us in a 3 right now. My short term chart had us in a 5th wave. (See Below)
stockcharts.com[w,a]dhclyyay[dc][pf][vc60][ilb14!la12,26,9!ld20!lp14,3,3!lk14!lah12,26,9!ll14][J9584489,Y]&pref=G
If the long term is right, then the Tommy Bear scenario is definitely in place and we should see a major bottom, 500/600 on the NDX by next June or so. I think this will happen. We are still in a major housing bubble, GM can't even give cars away anymore, interest rates cannot get much lower, the dollar is falling, consumer debt is at record highs, pension problems, oil rising. I can go on and on and on. I am really glad I am shorter than a midget in the weeds.
Allan gave me this chart yesterday. It is a wonderful proxy for what is happening and right when all the idiot anal-ists were getting bullish. GE going to break a 15 year up cycle. If this goes, hold your asses.
stockcharts.com[w,a]mhclyyay[d19900124,20030124][pf][vc60][ilb14!la12,26,9!ld20!lp14,3,3!lk14!lah12,26,9!ll14][J9802722,Y]&pref=G |
