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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (289174)	11/4/2010 5:36:00 PM
From: LTK007	Read Replies (1) \| Respond to of 306849

O my this chart is transparent we have ARRIVED to a top OR the prelude to mad run higher and higher. We hit both a double top and the critical 61.8 Fibonacci. This does NOT have to break through immediately, just keep in its target. Also a triple hit is BULLISH. In classic TA we should commence a major correction NOW. But T.R. my gut feeling is we are now going enter into a major blow-off top--in such a case overbought indicators will hit super super overbought levels not seen in history except in late 1999 and early 2000. Let's just simplify a say we have ARRIVED to the time of decision, major correction or watch out ABOVE. My gut feel is a major sell-off is NOT imminent, and if market break solidly above the Fibonacci then 1305 the next test.