Justa, I just posted one from 1996-1997. Since the BP only goes back to 1995, it's really difficult to find something that's not leading up to the bubble.
The same whipsaws I spoke of in 1999 are there in 1996-1997.
Looking for this market to go higher next week. Im looking for another test of the 1685 level. Whether or not we get through is hard to say...guess it depends on how painful it gets for those shorts who are trapped here. Positive divergences on the Comp 5 and 15 minute charts suggest a move northward and the contraction in volume on the Comp in light of a quad expiration suggest the shorts are not yet in control. A move up from here sets up a nice ascending triangle on the Comp. Still thinking there's some pain for the shorts to bear in the near term as they stay focused on their indicators versus the price action. Moving towards the end of quarter can't hurt either.
agreed, correlations to 1998 i believe to be not applicable. And those insiders that were loading up then had good reason as they saw those y2k orders piling up(another once in a lifetime event). People buying into it's a new SUPER bull market via their late 1998/early 1999 charts are going to get decapitated, imo. i see since the market busted to a 15% move stats are showing that the average LTBH investor is beginning to jump in---Devil Take The Hindmost? I think so.
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