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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (58248)	11/1/2002 12:17:20 AM
From: John Madarasz	Read Replies (5) \| Respond to of 209892

not so fast bro...i still believe that there's more room to the upside here..after the distinct probability of a short term pullback starting tomorrow morning, and ending early next week. Remember a couple things... 1) IIA and AAII sentiment is waxing towards extremes, but go back and look at this period while the SPX was putting in the right shoulder last year... sentiment piled up for weeks before price rolled. AAII really marks major tops when bullish extremes get to 60 or above... the following chart is a couple weeks old, but for all intents and purposes, it's still perfectly valid. boomspeed.com 2)Since 1934 there have been 17 midterm house election periods...and only 1 time has the 8 day period (5 days before, 3 days after) surrounding the elections been negative. Only once. The average gain for the DOW during this 8 day period from Nov 1st to Nov 8th is 2.9% 3)The Bradley turn for Oct 29th was a LOW...not a high...ie: an inversion 4) There is the distinct possibilty that the 8.6 year cycle turn for Nov 8th (+/- 12 days) will be a HIGH time...not a low...inversion 5)I'll say again, i believe the current adminstration is doing EVERYTHING in their power to keep power, and gain control of the house thru the appearance of a stable economy, once they have power, there's 6 more years to right the ship...AFTER the elections will be the time to let her take on a little more water. Plenty of stuff to play on both sides of the street imo...think sector rotation....but this is the perfect opportunity to pull the public back in here in a big way... and don't think our nemisis Osama doesn't see this too<ng>