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Pastimes : The Philosophical Porch

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From: Rarebird	10/28/2010 8:37:22 AM
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Transcendental Market Truths: The Market: I was looking for the market to fall 17 SPX points, but it only fell 14 points before the so-called "Plunge Protection Team") came to the rescue in the stock market. "They" definitely do not want this market to crash before the elections next Tuesday. Yet, the constant buying of dips in the face of deteriorating fundamentals makes a crash inevitable at some point in the future. I got my first peak in the market right on schedule here. Now, I have another peak due next week and I expect to see individual sectors start to peel away and drop behind. Yesterday, the Dow Transports was one of those sectors which started peeling away. I have a sell signal on that sector, along with BKX, GDM (the Gold Mining Company Index) and the NYSE Composite. NYSE Composite Index: The volume oscillator of the NYSE Composite Index is retesting the zero level from underneath. This is the same, exact pattern it produced at the last significant high in April. Short Term Bottom Line For the period between here and November 3, the way to bet is a continuing trading range as the top finally finishes being built.

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