Galapagos Islands Message Board

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Strategies & Market Trends : Galapagos Islands

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To: Jorj X Mckie who wrote (53423)	11/1/2004 7:34:42 PM
From: Jorj X Mckie	of 57110

I believe we are at a major decision point in the equity market. We have been in a descending consolidation phase since last January and it isn't surprising that the election is looking like final phase before the market decides which direction to go. I put this chart together on October 8th. The slightly descending mid term trading channel (from last January) on the Nasdaq is intersecting the short term ascending channel (from August). stockcharts.com, uu[r, a]waclynay[df][pc10][iub14!la12, 26, 9!li10, 10!lh5, 5!lp14, 3, 3][j30811010, y]&listNum=1 If we fail to take out 2000 on the nasdaq by Thursday, I would get very bearish. However, my expectation is for a pretty strong breakout (up) on Wednesday. I am looking for a 15% rally in the equity markets by January. That's my low target. And it is dependent on 2000 being taken out this week.

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