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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Fintas who wrote (48326)	4/7/2013 12:49:10 PM
From: robert b furman	Respond to of 221924

Good Sunday GZ and Fintas, I get the same read as Fintas. screencast.com Here is a longer term chart of the SPX, Note how the Macd puts in a low from a much lower level before a major reversal can be made. Yes Macd has crossed below it moving average,but to hit bottom and put in a low much more time must evolve. I think Macd and the market can well put in a new high - it will be short as most false new high come off of b waves.We may just now be putting in an A wave down. Note how -DI must pop up for the bigger bottom to come in on this 3rd box. I think we'll see a short term downtrend continue (price should touch the lower keltner line and then bounce to a false new high and then a longer more substantial C wave decline - perhaps after earnings are told? Bob