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Hi Bill,
SPX sell-off looks too benign to me... once the markets get a wiff of blood in the streets
should i take that to mean you expect to see an acceleration to the downside in % terms? I really like this chart for laying the -long term- cards on the table... the fork cards at least. <g>
geocities.com
we are obviously at critical support (around 1281 or so basis spx) for the remaining up-fork. If this holds, I think the chances of a sharp rally are good. If it breaks.... the next logical target, imo, is the middle tine of the down fork which is around the lower 1100's right now. Beyond that, it's the lower tine of the down fork, down in the upper 800's right now. If we were to get down there, you will have had your BK, or at least the biggest, fastest part of it..... BWDIK. <ggg> Bear in mind, that this read doesn't really factor in the shorter term stuff.
it should drop like a rock... not at a mirror image to a bull move up!
absolutely, things fall faster than they rise.... i think. <g> Talk to you later, take care
Regards,
Frank |
