Once we get are highs that we pull back from in a meaningful correction(the extent of the correction itself we be very meaningful--that is mild or virulent) i will then draw a cyclic bull channel for both SPX and COMPX, the success or failure of administration to maintain that cyclic bull channel will be decided by that channel, it will tell me if it they are failing or succeeding.
I can't draw the chart yet until i i have the blow-off point of this rally.
Hypothesis i put forth is the higher the blowoff the HARDER it will be to maintain a cyclic bull channel.
Though i doubt it to the EXTREME that SPX will fail here, the SPX is however just below having put it's primary bear trend channel aside.
I have to show my Nikkei Chart , when i get a chance, to show Nikkei broke the primary bear trend several times(to hoots and hollers of a new secular bull was in play, only then to collapse--but that process has been going on for 13 years:)
If ISM number comes plus 50s i suspect we will commence a blow-off run on Tuesday).
Our market , i feel has a grave weakness, it moves too hard TOO fast as too many want to get it all back NOW(U.S. population STILL, i feel, has the world's shortest attention span, and in fact, they have no competition)
Greed taking hold in in a sluggish economy will have us back to a preposterous bubble such that we will have a one more monstrous last leg down---when, i have no idea:) TA will tell me.
Zeev, to those that think i being bearish and using scare tactics, i can only say--give me a break:) because that is NOT what i am doing.
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