AlanH; RE:" Next Wave..."
>My guess is for a BIG rally on Tuesday. Of course, this assumes that we escape global catastrophy over the holiday...
I tend to agree with your sentiment, Alan; but I'd like to get some read from WaveMeister Don. So far, the (daily) candles have been remarkably similar to the OCT-97 crash. Next week's OEX candle may look like an inverted hammer, if history continues to repeat itself. Depends on the Banks - we're not going anywhere without the financial sector; and retail + drugz is not enough legs to stand on. The irony of commodities recovering, is that if they do go up, I would expect employment/disposable income to go down. CRB looks like a blip, though, don't you think ? EWC - CanadaWEBs weekly was a hammer, reflecting some commodity recovery.
Should Don deem we get an up-wave next week, it would be a good opportunity to short Latin America, IMHO. The EuroWEBS (EWG, EWQ) finished with weekly candles saying that their sentiment is "uncertain", which is slightly bullish in the context of their DownTrends - though much of their apparent strength this week was due to a weaker USDollar.
-Steve |
