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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (70832)	5/7/2005 4:11:34 PM
From: Real Man	Read Replies (2) of 94695

We'll see. I think the technical damage to intermediate term chart from April carnage will not be repaired easily. DOW theoiry sell was generated in April 2005, when both DOW averages violated January lows. The previous time the DOW theory sell was generated was in early 2000. Dow buy occurred in October 2002. I'd be very, very careful with this market. Many LT indicators are pointing towards the start of wave 3 of the secular bear. Not sure when the market really breaks, but when it does, the speed and the extent of the decline in wave III should exceed the speed and extent of the decline in 2000-2002 bear. Thus, the minimum requirement is 72% decline for NAS from the bear rally top. Spoos target is at least 600. I'm not sure how to count other Fib numbers, such as 1,62 x wave 1 or 2,62 x wave 1. Nas going negative, where you pay $1 dividend for owning a 1c stock? -g- Stocks are no longer oversold, and are extremely overbought short term. If this bear wave is for real, we should see major indices falling back to lower BB on weekly charts quickly.

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