punkle: I am beginning to be less confident about a larger down, because of the length of time the market has taken to top. If the Oct02 RSL holds, the correction will now be shallower than originally expected.
The QQQ/NDX both suggest a more shallow correction than does the COMPX. IMO, if we work at being on the right side of the shorter-term moves, if right we'll be on the right side of the medium-term moves as well. And, we'll be seated on the train going in the right direction when one finally gets the flag waved to head out of the station...gg
My weekly models for the QQQ/NDX/COMPX and SPY/OEX/SPX have been in the over bought range for some time. Obviously this condition could continue, but if the price action from this correction begins to cycle them lower, then the correction could do more than test the Oct02 RSL.
The boyz are doing a good job IMO of mudding the waters, this cycle...
Regards,
LG
News 
Market Data 
Discover 
AI
