CHARTS_CCI_SYSTEM

[rimshot]

great to hear from you, Don!

best wishes from "hiker" and take care my friend.

Don - I saved this post you composed in 2007 -

"TW Member
Posts: 122
7/28/07 at 08:24 PM

u must remember that all giant advances are preceded by ugly declines...the uglier the decline and the heavier the volume the larger advance to come.....all sharp declines are conducted for purposes of exchange insider accumulations and or short covering.....wave 2 corrections are invariably ugly enuf to get most convinced that the bull market is over......

one of the finest sentiment tools for important bottoms is how many of timer digest top ten timers turn bearish........9 or 10 is rare and always has occurred at important bottoms as of saturday's report only 4 are bearish....another week of this may see this number expand......which would coincide with the offsets.....

1438 in the sept S&P is important support.....if the Dow opens down on monday it appears there will be a lot of buyers but me thinks they will be disappointed....sharp declines or just failing rallies goes along way in improving sentiment....i had indicated many months ago that the epicenter of primary wave 3 up would follow a wave 2 pullback after 5 waves up.....and was sure that the advance was the first wave up of that larger move and that after 5 waves up the subsequent pullback would bring on the end of the world EW contingent declaring an end to the bull market.......

i would think that august 26 ...(bradley day) may be the focal point for this wave 2 correction.....thus the current correction may take on a an ABC form into august 26 or as in 1987 a 4/5 subdivision will occur......my guess is a 4.5 subdivision which if it unfolds that way will keep the ewavers bearish on the first 1.2 up as they will count it as a contertrend advance......just as it happen on the ensuing advance out the dec 1987 5th wave bottom......the advance out the 87 low was sloppy and kept the bears bearish then in 1990 when the 2nd wave down occured....(the bears saw 5 waves down into the oct 90 low and declared that the end of the world was upon us) the rest was history..... 1.2 buckly my choo.......SJNORJHT"