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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Vitas who wrote (94135)	1/30/2014 11:37:32 PM
From: The Ox	Read Replies (2) \| Respond to of 94695

As I see it, any current breakdown that doesn't go below the Oct 13 lows on the SPX is just a minor correction. A downturn that low would break below your lower trend line. That is the line from the Nov 12 lows (which everyone is watching, IMO). Even braking below that trend and holding at the Oct 13 lows would only be 11% off the top. A good correction compared to the last few years but I believe it should/would only be considered a minor correction within the context of the last 4 years. There is one more trend line that would need to be violated before a "Kahuna" might be a reality, the line from the 09 lows through the 11 lows. That's pointing in the neighborhood of 1500. 1500 is less than 20% off the recent top, so that even a drop that low could still be considered a major correction and not a "bear market" if the rebound took place at 1500 or higher..... or possibly more importantly, if the next low put in it held above the uptrend line from the 09 lows. I would think to be considered a Big Kahuna, we would need to bust below 1500 and pick up steam to the downside.

To: Vitas who wrote (94135)	1/31/2014 9:11:43 AM
From: William H Huebl	Read Replies (1) \| Respond to of 94695

I have breakdowns in both the 14 day RSI and 44 day RSI. And it looks like the long term may be in trouble also: BWDIK???????????

To: Vitas who wrote (94135)	1/31/2014 9:23:34 AM
From: robert b furman	Read Replies (2) \| Respond to of 94695

Hi vitas and Bill, I agree with vitas, So far this corrective wave has been a pussy cat in points down damage. The last corrective wave down took 23 days ( 5/22/13 TO 6/24/2014) and dropped 109.06 points (6.53 %) . So far from the high of 12/31 - today is day 21 and we've only had a drop of 48.24 points on spx. With just a couple of days left to equal the last corrective wave of the same degree we need down hard. Looks like buy the dip today or Monday is a viable play - maybe hold your nose when you do it will help.LOL Bob