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

To: morokko65 who wrote (1500)	7/26/2008 10:08:30 PM
From: AllansAlias	Read Replies (1) \| Respond to of 3209

No. For the most part, we are just jello'ing around down here. We'll know more very soon though, as this move provides more shape and shows us if it can deal with overhead resistance. Honestly, I still would not be surprised either if we had a quick, new minor low.

To: morokko65 who wrote (1500)	7/27/2008 10:04:01 AM
From: AllansAlias	Read Replies (3) \| Respond to of 3209

My interest has flagged somewhat, as I spend more time lately golfing and such. It's a long winter not far off and there will be plenty of time to read charts by the fire. -g I continue to favour that we rally for a while yet. I continue to favour that it is a bear market rally. Here's the key: if the market goes up next week I need to be long, as it is quite possible, as is always the case, that I am wrong and the rally extends for months instead of a couple of weeks. If one is long, one can just follow it with intelligently placed stops and let the market do the rest. If I am right, and this is a bear market rally in the "big C" scenario, we are just ahead of the best shorting opportunity in your life time. The meat of such a move should coincide with the takeoff in gold, as the ongoing gold descent will have ended in August I figure. Let's work this s-t bullish, l-t bearish scenario from the inside out, starting with the wiggles and moving to a monthly. We'll look at the Nasdaq Composite, which has been stronger than the Nasdaq 100 of late. First, the 90min chart: Here we show the shot out of the hole as the 'A' wave, then an a-b-c running flat, with the powerful 'C' up just starting. You wanna be long if price works its way up to that 2325 level. The entire A-B-C correction shown above in blue, is shown again below within the context of a daily chart: Here we show the May high as the top of wave '2'. The current A-B-C would be a '(ii) of 3', and we know what comes after that! Finally, within the context of the "big C", we see how things are only just getting under way: You know, I do not want this to happen. I would rather that we just had prices grinding higher at 7%/year and I could watch the magical compounding of my retirement money. .