The home of the innovation of the Logarithm of Time as applied to the Markets.
We also watch for and correlate with major Bradley dates and Fibonacci Time and Price sequences.
Sunday, November 23, 2008
The rally has started?
Remember I mentioned that two cycles bottomed around the 20th...Perhaps they are now working...
Shawn and Bevets, Sorry I just picked up your comments on the other "Blog"..I know this is about a week late, but longer trendlines(in time) tend to be stronger than trendlines of shorter duration..But these trendline touches on the $SPX aren't associated with a node, so it's hard to gage the strength of any rally that might ensue from these levels...
Hi Shawn, I think the rally is real, as cycles support it, and the market is real oversold.
Probably the best argument can be made that this is a 1929 redux, and this rally will retrace almost half of the fall from the top, and take a few months, to be followed by the final leg down which will go much deeper and last longer than the trip down so far from the top...
The Exponential math does give signals at major nodes when trendlines are lightly breached, but this one was a little late, and a little off on the node (.273 instead of .25) so by that set of standards it looks sloppy. But sometimes technical analysis by itself is not the whole answer, as in this case. So I would say the rally will do pretty well...
3 comments:
Shawn and Bevets,
Sorry I just picked up your comments on the other "Blog"..I know this is about a week late, but longer trendlines(in time) tend to be stronger than trendlines of shorter duration..But these trendline touches on the $SPX aren't associated with a node, so it's hard to gage the strength of any rally that might ensue from these levels...
Regards,
Mark L.
Thanks.
So you mean this rally is in doubt until it proves itself? At what level or time would you conclude that this rally has a leg and to what target?
Thanks
Hi Shawn,
I think the rally is real, as cycles support it, and the market is real oversold.
Probably the best argument can be made that this is a 1929 redux, and this rally will retrace almost half of the fall from the top, and take a few months, to be followed by the final leg down which will go much deeper and last longer than the trip down so far from the top...
The Exponential math does give signals at major nodes when trendlines are lightly breached, but this one was a little late, and a little off on the node (.273 instead of .25) so by that set of standards it looks sloppy. But sometimes technical analysis by itself is not the whole answer, as in this case. So I would say the rally will do pretty well...
Regards,
Mark L.
Post a Comment