Wednesday, November 16, 2011 11:53:52 AM
Good Morning Steve, I agree
For now I think we are in line with the 2002/2003 end of year trading and Feb/Mar 2012 will be the low. Looking at the longer term charts they posted it would be interesting to see a further decline to 700, but doubt it happens. I am wondering if the 1292.66 last top might have been the 1300 test? I remember Northam first posted it was a Close above the Monthly UTL but then later stated it missed by 3 points. Bagman Charts has an interesting indicator to watch with the PPO touching a flatlining Full Stochastic as a potential Top/Bottom signal. You can see it here in this TZA chart the PPO/Full Stoch taps Aug 8th and Oct 31. I have never followed those indicators before but it certainly does look like Potential Top/Bottom signals. Of course there was a Lot of Whiplash between Aug 8th and Oct 31st so I would anticipate that to continue. Not sure how the 4 Month cycle would fit with Northam's Cycle system?
If we are still in a Bear Market then I would anticipate it to be a shortened cycle. For now I think we still get a lot of testing and whiplash until there is a defined break in either direction, so still consolidation ahead, we shall see.
Enjoy the Day!
For now I think we are in line with the 2002/2003 end of year trading and Feb/Mar 2012 will be the low. Looking at the longer term charts they posted it would be interesting to see a further decline to 700, but doubt it happens. I am wondering if the 1292.66 last top might have been the 1300 test? I remember Northam first posted it was a Close above the Monthly UTL but then later stated it missed by 3 points. Bagman Charts has an interesting indicator to watch with the PPO touching a flatlining Full Stochastic as a potential Top/Bottom signal. You can see it here in this TZA chart the PPO/Full Stoch taps Aug 8th and Oct 31. I have never followed those indicators before but it certainly does look like Potential Top/Bottom signals. Of course there was a Lot of Whiplash between Aug 8th and Oct 31st so I would anticipate that to continue. Not sure how the 4 Month cycle would fit with Northam's Cycle system?
If we are still in a Bear Market then I would anticipate it to be a shortened cycle. For now I think we still get a lot of testing and whiplash until there is a defined break in either direction, so still consolidation ahead, we shall see.
Enjoy the Day!
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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