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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (10054)	3/4/2006 7:35:58 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 12411

Most definitely, I agree, thanks for the post... I was so gung ho with the spiral breakout, but then the new up spiral wasn't giving much overhead time or space for a rally... I found this an interesting phenomenon... and then when I saw prices begin to sell off so rapidly and give back the whole day's 75 point gain in just a few minutes, I began to get those same feelings I used to get when I saw the SP's move limit down... it was capitulation in reverse... it kind of reminds me of the typical exhaustion gap we see at the top of big rallies, except the exhaustion happened in the last hour instead of a higher opening and then selling off... I posted earlier that the last hour would be fireworks, but I never suspected the fireworks to be in reverse... I'm glad I reinstated my short position... we have outside reversal days in all the major indices, this is certainly negative, and the more deferred SP charts have a much clearer picture of an outside key reversal pattern... I suspect we could see a whole month of selling from here, or at least into the third week... because of yesterday's action, my spiral is suggesting a much longer period of selling, into the third week of march is possible... we'll see... GZ