Scrapps, David, Jeffy et al.--
I have been roundly chastised (and rightly so) by David, who has threatened to relegate me to mere Honorary status... I stand rebuked, feel guilty, the whole nine yards.
In partial recompense, here's what Rainsford says about the latest Bradley turn (DON'T scoff, the B's been deadly accurate so far this year):
The next major Bradley turn is August 9th, which at this point should relate to a low forming in the Dow by Tuesday (Bradley turns usually relate to market turns within 2 trading days). This expected low will become very significant as it will relate to a major Bradley turn, and will become our trigger point for generating a possible Bradley Sell signal, the first in quite some time. What we'd need to see is a low forming by Tuesday, and then a subsequent takeout of that low on a closing basis. This would be a signal to enter short. Interestingly, this is the only possible signal that can be generated for the time being, as no major Bradley turns relate to any of the highs formed in late July, so even a rally into new highs would not generate a re-entry signal long.
So as I understand it, if we take out the low that might be (and probably will be) formed Monday or Tuesday, the market's on SELL; if it recovers, it's neutral till the next turn.
R also does some pretty interesting stuff with put/call ratios: check out astrikos.com
WILL be back posting here, but hell, if YOU were "invested" in Y2k stocks it'd take ALL your time just to try to keep up... Haven't even read the Joke thread in days....
Janice |
