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Strategies & Market Trends : Longer-Term Market Trends -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (1319)	7/10/2008 11:01:01 AM
From: AllansAlias	Read Replies (2) \| Respond to of 3209

The charts are hinting at something unusual right now. I think there is a decent chance that today we see a cascade to the down side -- the sort that would make the evening news. I see the potential in the pretty pictures for a new group of failures and Hounds -- little hints that make me squint my eyes and think "What a tick... something ugly could unfold very soon." One of the dozen or so hints I see today is the $XMI chart. Perhaps you will recall this "chart with implications" from June 28: Here is an updated chart with full candles, showing the fight here at the possible neckline: $XMI only today took out its January/08 low. (BTW, look at a WMT daily... what do you see could be there? It is not that down from that formation that would matter -- it is the failure such down would produce in the wider timeframes -- look a couple of steps ahead of where we're at.) The edge of the abyss is so often the birthing place of great sharp rallies, but now and then... Anyway, my board is more than half green here so who the hell knows. My smeller is tingling though... Would be a very nice buying op'ty forming if it comes.