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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (70986)	5/24/2005 9:41:11 AM
From: Real Man	Read Replies (1) \| Respond to of 94695

Yes, and I could not agree more. I'm not saying the turn is here now. But... there are technical things to keep in mind: 1) The long term trend up since March 2003 has been broken. We have just completed a re-test of the break. 2) Dow theory is on a sell. That's not good. Dow theory has a very good track record - it got folks (some, of course) out of the market in 1929 before the crash, and in 2000. It got folks back in 1932, and now also in 2003. It says this was a bear market reaction, which ended. Now, that's not a speculation on my part, so it has value! 3) Lindsay's three peaks and a domed house has not been violated. This pattern is 87% accurate. Couple that with extremely overbought state of the market, and ... Again, I'm not saying it will, all I'm saying is that there is a big technical change here compared with 2003-2004. Now, THAT change runs on scales longer than a week or two, so it can predict things opposite to your indicators.