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edwardo
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Three waves up? Here's a vote that the chart shows an unmistakable five waves up, and an equally unmistakable fives waves up from the lows of a few weeks ago.
Toggle Commented Oct 15, 2009 on Yves Updates His Bond Prediction at Planet Yelnick
Chartman wrote: "This advance has serious momentum and there are no serious divergences visible in the longer term picture." I suppose it depends on how one defines long term, and "serious", but the The Aroon Oscillator is not confirming this new high and we also have a divergence on the weekly PMO as per Decisionpoint. This is not to say that the market can not continue higher. I expect it will, at least for the remainder of the week, but momentum is most assuredly flagging. I will also add that bonds appear to have put in a high earlier this month.
Toggle Commented Oct 15, 2009 on ZZ Top at Planet Yelnick
Everyone who trades wants the stock market to bottom right here and rally for some reasonably short period of time, say two weeks, before it begins to fall apart in a crash wave. I have to say that at this point I am not too confident in the chances for a repeat of the '29 and '87 debacles where in both instances there was an initial leg down of somewhere in the neighborhood of 10% in the senior averages. This was followed by tepid rallies that gave way to collapses that have entered the history books and the realm of legend. I am beginnning to prepare myself for the distinct possibility, if not the probability, that the aforementioned scenario(s) will not play out, and that any opportunity to make money may be come in the form of picking up bargains in the aftermath of a crash rather than on puts that have gone from $5 dollars to $50 as a result of a collapse. With that in mind, here are three names that are showing admirable relative strength as the broad market gets the stuffing beaten out of it. BQI SWP.TO IEC.V