Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (73363)	6/19/2006 10:04:21 AM
From: Real Man	Read Replies (1) of 94695

NDX topped in January, formed a right shoulder in May, and broke down now to October 2005 lows. Weekly charts look like a giant head formation, again. Not exactly bullish behavior, not to mention the break of a bullish trend line since 2002! So did Nasdaq. Broke a major trend line. Time to be careful? You bet! SP500 has bounced from the trend line that goes back to October 2005 lows. I'm still seeing these manipulation volume blocks on the quote.com live chart for the DOW, though. Will it work again? The problem that I see with that is that the market participants are totally dependent on this Fed printing. Bears are long gold, and try not to short, bulls are long, well, stocks. Both have been bruised badly in the recent slide, some more leveraged ones wiped out. So, who will buy if the Fed fails? The answer is nobody.

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