C down

    Posted by amp43679 on 4th of Mar 2010 at 09:47 pm

    matt and steve, at the beginning of this bear market (end of 2007), you had outline a possible scenario for an a (down)-b (up-currently in)-c (down-yet to start if at all)?  Do you believe this is still correct or has a new bull market started?  I am refering to a long term view, such as months, not minutes or days.  Also, you had referenced the $spx monthly chart and outlined that the 20 monthly EMA had defined bull and bear markets for the last few years.  $spx on a monthly basis has been above 20 monthly EMA.  thanks ann

    It's some kind of bull

    Posted by matt on 4th of Mar 2010 at 11:19 pm

    It's some kind of bull market, how long it lasts, I don't know.  Yes all the bullish MA's crossed last year which is positive and my Long Term mechanical system went long last June and is still long of course. Bullish indicators like the NYSI cummulative graph are still on a buy signal from April 1st of last year. 

    I'll trade the trend.  And of course when my long term mech system reverses, well then maybe that will be an offical end to the bull market.  However I'm not trading that, I'm trading the shorter term trends and individual stocks.

    Here's my long term mechanical system for the market, it went long in June of last year, yes it went long a little late, but that's probably because it's optimized going back to 1961.   When that system changes to a sell, I'll let you know, otherwise just trade individual stocks and get away from trading the market

    http://breakpointtrades.com/controls/preview.php?nl_id=427

    Hello Ann - I discussed

    Posted by steve on 4th of Mar 2010 at 10:43 pm

    Hello Ann - I discussed 3 scenarios on Tuesday night's report so please review.  The scenario that would argue for a deep correction (Major Wave 3 or C down is shown on the SPX chart).  As of tonight, all three scenarios remain valid. We will need to see more evidence to determine which one (or something else) may be unfolding.

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