Hi GZ,
Great call on the nasdaq bear coil. If you look at the 6 month SPX chart you see the forming of three sets of head and shoulders patterns, within the greater H&S. One last weak rally and then a retest 900 would complete the pattern. Continued weakness in the tech bellwethers MSFT, CSCO, INTC, should indicate that the flu will spread to the rest of SPX.
We could just go straight down toward 900 this week like in August, have a Christmas rally,then another retest and possible break after Jan. 1
Clinton first called Asia a glitch, now is calling a high level meeting, probably before FOMC on 16th :
Message 2955820
>>>>When the German Finance Minister, Mr Weigel, the President of the United States, the head of the IMF, the U.S. Treasury Secretary, and the Chairman of the Federal Reserve get together in person to discuss something, you can be absolutely sure that something big is afoot. Mr Weigel has just announced that a meeting of all these gentlemen will take place this coming week.<<<<<<<
Thoughts?
b. beara |
