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To: Perspective who wrote (134025)6/30/2006 4:05:03 PM
From: skinowski  Read Replies (1) | Respond to of 209892
 
True, very similar. If anything, this time the decline actually seems sharper. For the analog to hold, I suppose that the June 2 top must survive.



To: Perspective who wrote (134025)6/30/2006 4:16:37 PM
From: skinowski  Read Replies (1) | Respond to of 209892
 
This is the putative support line. So far, it was only touched twice. Possible labelings should be self evident to this enlightened thread (so far, a three-legged creature pointed up -g)




To: Perspective who wrote (134025)6/30/2006 4:26:14 PM
From: Shack  Respond to of 209892
 
Sure, anything can happen bc. But the odds favour a 3 wave correction off a high being a correction, especially with sentiment deep in the tank. What's the Rydex Nova/Ursa ratio at these days? 0.09?? Crazy bearish sentiment. I see the 20-day ISEE put/call got down to the Oct 2002 neighbourhood.

In any event as I said I have no real good read, but I see no reason to be bearish on the SPX as that index hasn't made a lower low on the weekly chart in years.


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