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[AnderL]

Is this similar to Nov07 action? I'm waiting for McClellan lows to show divergence to price lows. So maybe a 1 month bounce from here then another drive into the depths. Dow 10000? But it is an election year. so maybe this is the bottom we are coming up to...



I took some liberties with what you gave me. Technically we are approaching a bounce territory, but if the bounce is weak then we have the potential for an acceleration of the trend down. Might not be enough to break out of the falling wedge. It will probably come to an upside breakout point on election day. Obama wins and there is a sell off, market doesn't want to lose its tax benefits, but economy will start healing. McCain wins and there is more free money and inflation to come, good for market but bad for the economy overall. Not being political just realistic.