Replies to post #3095 on Options Wonderland

[*~1Best~*]

Yes, Negative breadth is well noted as well since the end of Nov.

We now have slightly negative future, but as we know that could change in a dime like yesterday trading.

However, BOE (?) raised interest rate unexpectedly. Would that control over flooded market with excessive cash?!

Need to be cautious, especially during earning season.

I see that you modified the chart which I posted with LT view. You read my mind. As noted on my previous post with comment of "triple top" formation as of yesterday close, we are waiting for a pull back.

Better to distrust this market action, and be ready for breakout scenario if and when it does.

Good trades

[*~1Best~*]

WB, Market has broken out as I warned. Now, I will monitor the price actions against Domed house formation and Bradley's turn dates.

Unless proven otherwise, keep in mind my high targets as noted before.

The domed house formation is deadly for short because it does not retrace once it breaks out.

Good trades



~~~~~~~~~Caution for short-side: We need to keep in mind the high market targets which is DOW 13000, SPX 1475 and NASDAQ 2550 which were my original upper target in a longer timeframe when I did market analysis during Jul-Aug06; however, this market is in fast chase money mode trying to hype up the market to the targets by the end of May07.~~~~~~~~~~~~~~

NASDAQ/QQQQ have broken out of the top resistances, NASDAQ 2475 and QQQQ 44.75, as commented during the last week and warned a couple of days ago. Now, I will monitor "Domed House" formation which is an alternation of Head & Shoulder formation. Note the widely followed Bradley turn date showing the next turn date in early March 2007.

http://clearstation.etrade.com/cgi-bin/bbs?post_id=7848685