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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (8877)	3/30/2008 9:36:20 PM
From: SwampDogg	Read Replies (1) \| Respond to of 50435

Perhaps but it does not have to be. The question is whether the high in the $SPX was an orthodox high or not. It is possible that the recent decline is a 5 wave 'C' with the orthodox high being earlier in 2007. If this is the case (and the market has held despite all of the hand ringing) then the market may be on its way to new ATHs in the coming months. No point in guessing but if the downtrend is broken and the weekly MAs are taken out I will be looking up and not down. If this does happen all will be in disbelief and the market will be able to climb that huge wall of worry. The sentiment is certainly right for it as it is comparable to 2002 and in some ways more negative. OTOH if lows go 1050ish is likely. Don't really care either way but neutral the general market is a good place to be. Buy the volatility when nobody wants it and sell the volatility when everybody needs it.