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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: Ron who wrote (9407)11/21/2008 4:55:50 PM
From: skinowski  Respond to of 41547
 
Burden of proof to me is on the long side.

Agree. It's still a powerful downtrend. It reached a point when it may be likely to turn, but this doesn't mean that it will turn. Connecting the November tops you get a line which has the potential of being the upper line of an Ending Diagonal (possibly 5 of 3). That line at this time crosses near 855 or so. If the index can make it up there, and stay up there, maybe we're about to have an intermediate term reversal.


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