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Strategies & Market Trends : Moomin Valley (formerly Troll-free Zone) -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (1657)	8/30/2006 7:49:23 PM
From: skinowski	Read Replies (1) \| Respond to of 2852

To my eye, the indices look stretched - and may be getting tired. SPX at the high of August 4 was some 11 points lower than at today's close - that much for the perception of a mighty rally taking place out there. The action since June seems to be wedging up, with many overlaps. And all of this is taking place as we are heading into the most bearish period of the year - while there is good reason to expect a 4 year cycle low as well. I think the odds are pretty good that the next meaningful move will be to the downside.