I only read very few posts here, aj's, Jeff's, Rich's, Justa's and Augie's, but I gather there is some commotion going on about the retrace. This is stunning to me because as I postulated last August several times, the full outcome of the retrace would be an October low, followed by a big rally, and then a slow steady sell off for months to a second barely higher low in Spring or early Summer 2003. The reason I said this was simply because that would have been nearly precisely what the pattern had been in from 29-33. All of you following the full 29-33 pattern should be making a killing..it is flat following the roadmap exactly.
mrci.com
Look how there was a nearly v shaped low at the July 32 low,(Augie back in August didn't think this was a v, but more like a u and I can accept that), a big rise, but then months of sideways to down movement to a second low in Spring 33,l before the 3 year bull kicked in.
The patterns are very close, and even the time frames are the same
The recent pattern is nearly exactly the same, but evolving a bit quicker. We would probably not crack 1200 on the nas but we would have to get down around there. And no one should expect a real sustianed blast off until after that happens and perhaps as late as June.
Now, I don't buy into this but I just don't get why everyone seems to think the retrace failed when its motoring on doing exactly what happened in the 30's |
