NYSE Composite – This is what we think the market will look like over the next near. We can see the possibility of a “regular” inverted head-and-shoulders pattern but the double shoulder version fits in better with one of our other scenarios. That scenario has the oscillations damping down until the volatility drops and nobody cares about stocks any more.
Friday, March 20, 2009
Bottoms Up?
Here is a chart and some comments from this morning's Quick Takes Pro newsletter.
NYSE Composite – This is what we think the market will look like over the next near. We can see the possibility of a “regular” inverted head-and-shoulders pattern but the double shoulder version fits in better with one of our other scenarios. That scenario has the oscillations damping down until the volatility drops and nobody cares about stocks any more.
NYSE Composite – This is what we think the market will look like over the next near. We can see the possibility of a “regular” inverted head-and-shoulders pattern but the double shoulder version fits in better with one of our other scenarios. That scenario has the oscillations damping down until the volatility drops and nobody cares about stocks any more.
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5 comments:
The question in my mind is this... will you leave this blog entry online when the current lows are broken to the down side?
I think you've become too bullish. The charts can be see as 50:50 either way. And small divergences can foretell a large or small correction.
Major A down is in, B up is in progress, to be followed by major C down to devastating new lows. When C is done, volatility will be gone along with most talk of the stock market as a place where anyone would put their money.
I hope this doesn't happen, but it's awfully hard to see where earnings are going to come from in the next four years with a president and Congress intent taxing wealth and business growth into submission and spending like corrupt fools on non-productive activity.
Thank God my 401k got converted to an IRA three years ago when I left my old job. QID been belly good to me.
Steve,
The answer is "yes." Anyone with any sense of ethics would not hide mistakes.
The question is will you extend me the same courtesy if I am right?
PD,
Major A from where? If you mean from the 2007 peak then the B should be huge.
I also look for apathy towards stocks before the bull returns. But as for the questions on earnings, I can cop out to "not my job." The charts look a whole lot better to me.
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