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From: Rarebird	9/2/2010 8:50:11 AM
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Transcendental Market Truths: The Market: I had been looking for an exhaustion rally for some time now and this appears to be it. Similar to the October 2007 high, this blow-off affair has plenty of kindling available in the form of premature bearish bets made based upon the "double-dip" hypothesis. I've had a "stealth recession" underway for almost the entire year, yet it has only pushed the stock market sideways in a trading range. With the crowd finally realizing this fact, they all got bearish too late. And, now they're paying the price. How long will the rally last? I have a very rough estimate of the 24th of September if the new T I've constructed is accurately placed. I'll have more to say about this in the coming days as more technical data will be at my disposal. Euro: I'm looking for a retest from underneath of the overhead resistance line (at 1.2961, which is the 50% retracement) to turn the short term trend back down in the direction of the long term trend.

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